Over half of Mexico's estimated undiscovered oil resources - some 54 billion boe - lie offshore in largely untapped deep waters in the Mexican portion of the Gulf of Mexico, a senior Mexican energy official told a Houston gathering last week. Javier Estrada, a member of the National Hydrocarbons Commission (CNH), told the Border Energy Forum that state-owned Pemex is in the early phases of exploring Mexi- co's deepwater potential. In 2000, it initiated a 3-D seismic survey of about 47,000 sq km of Mexico's Gulf waters, which is set to wrap up in 2012.
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