Mexico oil finds could yield 2 billion barrels

MEXICO CITY

Mexico's state-owned oil company says it has found deposits of up to 2 billion barrels of super-light and super-heavy oil in shallow waters of the Gulf of Mexico.

The director of Petroleos Mexicanos company the Ayatzil-Tekel and Tsimin-Xux fields were discovered over the last 2 years.

Juan Jose Suarez says the first field contains a total of 1 billion barrels of proven, probable and potential reserves of super-heavy crude.

He says Tsimin-Xux contains an equivalent amount of super-light crude.

Mexico's proved, probable and potential reserves previously stood at 43.6 billion barrels.

Suarez spoke Thursday at a ceremony marking the 72nd anniversary of the 1938 oil expropriation of Mexico's oil industry.