Carlos Slim to Invest US$840 Million in Lakach Gas Field

Mexican businessman Carlos Slim met with President Andrés Manuel López Obrador to discuss a potential investment of approximately US$840 million in the Lakach gas field, located in the deep waters of the Gulf of Mexico. This project would be a collaboration between Grupo Carso and PEMEX.

The Lakach field, situated at depths exceeding 1,500m, has an estimated recoverable gas volume of 847.9Bcf, with a recovery factor of 64.67%, according to explorations conducted by PEMEX since 2006. Additionally, the field holds proven and probable reserves of high-value condensate liquids, amounting to more than 3.5MMb.

PEMEX has kept the field sealed since 2016 due to the low profitability of gas extraction during that period, influenced by shale gas exploitation in the United States, which kept prices low. PEMEX has already invested over US$1 billion in Lakach, and in the case of a partnership, the partner could contribute capital while PEMEX provides its expertise and field data.

In 2022, the government announced a partnership with the American company New Fortress to build regasification infrastructure onshore. However, New Fortress only established its terminal in Altamira and did not continue the partnership with PEMEX. Now, Grupo Carso's energy subsidiary might take over the project.