Petromex Industries Gives Their Oilfields The All Clear After Isaac
Petromex Industries have today given the order to return to full production after Hurricane Isaac pummeled the Gulf coast.
- (1888PressRelease) August 31, 2012 - Petromex Industries an independent company involved in the exploration, development and production of oil and gas properties, with operations based around the Maloob oilfield in the southern Gulf of Mexico and the Poza Rica oilfields in Veracruz state have today given the all clear for production to return to full speed after moving operations to a minimum production level during the recent threat from Hurricane Isaac. The Companies Ku-Maloob-Zaap field which usually exceeds 850,000 barrels of all per day was slowed to just over 250,000 barrels for the past 2 days as a safety measure.
Petromex Industries Chief Operating Officer Mr. Ronald Naldrett commented " with the threat of hurricane Isaac to our fields in the gulf of Mexico we decided it would be in the best interest of the company to slow production until the hurricane past, luckily after it had past and after thorough safety checks by our safety team, we have approved the order to return to full production, we are still monitoring the weather as well as the fields to make sure that if we need to stop production due to safety fears, that we can evacuate our employees as quick and as safe as possible."
Hurricane Isaac was given category 1 status first made land fall after sweeping through the Gulf of Mexico on Tuesday evening, before retreating back into the Gulf before finally remaking landfall on Wednesday. Yesterday The U.S. Department of Energy estimated about 936,000 bpd or 12 percent of oil refining capacity had come offline on the Gulf Coast due to Isaac. The U.S. Bureau of Safety and Environmental Enforcement confirmed that 93.28 percent of oil and 66.7 percent of natural gas production was disrupted by the hurricane in the Gulf. The disrupted varied from full shut down of fields to slowing down of production on other fields.
Petromex Industries Chairman Mr. Stephen P. Raleigh also commented on the past few days "We have been very fortunate with the fact that we have not be too badly affected by Hurricane Isaac, production was slowed for safety reasons and after critical safety checks the all clear was given and production was ramped back up to full speed. We will continue to monitor over the next few days."
About Petromex Industries:
Petromex Industries is an independent company involved in the exploration, development and production of oil and gas properties, with operations based around the Maloob oilfield in the southern Gulf of Mexico and the Poza Rica oilfield in Veracruz.
Petromex Industries has pursued, since its inception, an active acquisition, exploration and development program, whilst at the same time remaining free of long term debt. Petromex Industries has negotiated exploration concessions in the Maloob oil field in the Bay of Campeche in the southern Gulf of Mexico, a field that is producing more than 850,000 barrels of oil a day. The Maloob field is part of the wider Ku-Maloob-Zaap complex and has proven to be the most important oil producing region in Mexico in recent years.
Petromex Industries is also embarking on a dormant well reactivation project based in Veracruz State. This project is taking older dormant wells, long considered spent, in the Poza Rica oilfield and utilizing the latest extraction technology available to Petromex Industries in order to bring this ignored energy resource to the marketplace and to take advantage of the current natural resource pricing environment.
The management team at Petromex Industries possesses over 100 years of experience in the natural resources industry, covering all aspects from technical operations to financial management. Petromex Industries also has developed excellent relationships with the best international consulting firms and private contractors, allowing us to call on a wide array of expertise when required.
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