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Mexico and Belize have agreed a moratorium on the development of their trans-border hydrocarbons reserves and plan to hold talks on a bilateral agreement on exploration and drilling.
Mexico's hydrocarbons undersecretary at the energy ministry, Lourdes Melgar (pictured, right), and Belizean vice minister for economic development, oil, trade and investment, Yvonne Hyde, met Monday to sign the moratorium on exploration and drilling within 5km of the border.
The meeting was a follow-up to a memorandum of understanding signed by both countries last August.
Both officials also agreed on a work calendar to establish negotiations toward a bilateral agreement on trans-border hydrocarbons reserves.
Ten companies hold acreage in Belize, according to a map from the country's geology and petroleum department.