Print Back to story Petroleos Mexicanos, Mexico ’s state-run oil producer, is optimistic of a crude discovery at the Vasto-1 ultra-deep water exploratory well by year-end, said Exploration and Production Director Gustavo Hernandez. Pemex, as the Mexico City-based producer is known, has found “evidence of hydrocarbon content” at the Vasto-1 well and hopes to announce an ultra-deep water find by year-end, Hernandez said today in a phone interview from Mexico City. If confirmed the discovery would be the latest in the Perdido area, where the company estimates that as much as 10 billion barrels of potential reserves can be pumped. “We are working on the well and if it turns out to be as satisfactory as we hoped, I think we will be making another announcement in the near future,” Hernandez said of the Vasto-1 well. “It has shown good results that are going to allow us to determine […]