Mexican state oil orm Pemex's revamped plan to develop the previously abandoned Lakach deepwater natural gas project in the Gulf of Mexico has been approved by the country's oil and gas regulator. The development plan for the oeld, which is estimated to hold roughly 930 Bcf of gas reserves, will cost nearly $1.8 billion, up from the original proposed price tag of about $1.5 billion, according to Mexico's National Hydrocarbons Commission (CNH).
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