Pemex announces light crude oil discovery in southern Mexico

MEXICO CITY Sun Nov 25, 2012 1:29pm EST

MEXICO CITY Nov 25 (Reuters) - Mexico's state oil monopoly Pemex said on Sunday it had made a new discovery of light crude oil in an onshore well in Southern Mexico.

The oil was found at a depth of 6 kilometers in the "Navegante 1" well in the state of Tabasco. Pemex estimates the reserve contains up to 500 million barrels.