Nov. 5 (Bloomberg) -- Mexican Energy Minister Georgina Kessel said state-owned Petroleos Mexicanos will boost drilling at the Chicontepec field as it seeks to stem falling output.

New technology may help raise production at the geologically difficult field, Kessel said today in an interview at the Bloomberg Economic Forum in Mexico City. Mexico hopes the deposit will produce about 700,000 barrels a day by 2017, compensating for declines at the 30-year-old Cantarell field.

Since 2007, Pemex has awarded at least $3.8 billion of contracts for Chicontepec to international oil services companies including Weatherford International Ltd. and Schlumberger Ltd. Pemex is planning to spend a record $19.5 billion this year on production and exploration.

September daily output was 29,907 barrels a day at Chicontepec. Pemex had an original target of more than 100,000 barrels a day for 2009.

To contact the reporter on this story: Andres Martinez in Mexico City at amartinez28@bloomberg.net

Last Updated: November 5, 2009 15:16 EST