Carlos Slim's Grupo Carso reviews feasibility of deepwater field project

A company official revealed Tuesday that Grupo Carso, in collaboration with the state energy company Pemex, is evaluating the feasibility of Lakach's deepwater natural-gas project and conducting new analyses. This will help determine the best way to proceed.

The company, which is owned by the government of Mexico and has a long history of abandoning projects, signed an agreement with Pemex last year in order to work together to develop a project on the Gulf of Mexico.

Arturo Spinola said, "We are evaluating the feasibility of the project in terms cost-benefit, as the gas prices don't match the investment needed," during a conference call to discuss the company's results for the third quarter.

Earlier this year, it was revealed that Pemex has been in contact with companies belonging to the Mexican billionaire Carlos Slim's empire about at least two of Mexico's most promising areas.

Slim described Lakach's project in February as "complicated", noting the offshore depth of the resources adds further difficulty.

According to data available, the field is located 90 km from Veracruz and contains an estimated 900 Billion cubic feet of natural gas.

(source: Reuters)