Mexico's President Enrique Pinia Nieto announced on Friday the discovery of a "huge" oil and gas field in the eastern state of Veracruz. France 24 reported.[/size]
Discovery of the largest gas field off the coast of Egypt
"The field includes a reserve of 1.5 billion barrels of crude oil and will be the most important discovery in the last 15 years" on the ground for the Pemex general oil company, Benya Nieto told a news conference.
[rtl]"The extraction of oil will take place in a short time and at a relatively low cost because the field is located close to facilities for" Pemex "[/rtl]
[rtl]The discovery comes at a time when oil production in the third quarter of this year fell to 1.8 million barrels per day, down by 12% compared to the same period in 2016.[/rtl]
[rtl]Pemex, which accounts for 16 percent of Mexico's revenue, posted a net loss of $ 5.3 billion in the third quarter, mainly due to the consequences of natural disasters on its production in September.[/rtl]