Mexico’s state oil firm Pemex plans to pursue an ultra-deepwater project in the Gulf of Mexico despite limited resources and despite recent pledges to avoid riskier endeavors in which it lacks experience. Mexico’s energy regulator, the National Hydrocarbons Commission CNH, has recently approved a plan by Pemex to drill for oil in ultra deep waters in the Gulf of Mexico, Reuters reported on Wednesday, quoting a filing with CNH. Just two weeks ago, Pemex’s chief financial officer Alberto Velazquez said that the state oil firm would avoid investing in deepwater projects , instead focusing on areas where it has experience, including the shallow waters of the Gulf of Mexico and onshore fields. Yet, according to the drilling and exploration plan approved by CNH, Pemex plans to invest US$106 million in four years exploring in the Perdido area, which is a prolific producing basin on the U.S. side of the […]