Mexico’s national oil company Pemex plans to triple the number of wells it will drill this year, the company’s chief executive said on Monday, in a bid to grow crude output and reverse more than a decade of declining production. The government-funded plan involves drilling 506 new wells spread across 20 recently-discovered fields, according to a presentation from Pemex CEO Octavio Romero. That would be more than three times the number of wells Pemex drilled in 2018. The plan should yield more than 300,000 barrels per day (bpd) in new oil output by 2022, according to the presentation, which would mark a new record for Pemex, formally known as Petroleos Mexicanos. “In Petroleos Mexicanos’ entire history, it has perhaps never developed 20 new […]