Mexico finds new oil deposits

(MENAFN) Mexican President, Felipe Calderon, announced that Pemex, the state owned oil company has found new oil deposits in the Gulf of Mexico with an estimated reserves of 75 million to 125 million barrels, reported Xinhua News. Calderon added that the latest discovery, the Supremus 1, could be the largest oil field found in years with prospective reserves that could reach 13 billion barrels of crude equivalent. The field, which is located at a depth of nearly 2,900 meters, is the world's eighth-deepest deposit and is the second oil deposit announced by the president in less than 40 days. It is worth noting that Mexico would carry on developing its 22 wells, of which 15 have already been drilled during the administration of Calderon.