The cooperation agreement includes more than 30,000km of data in the Pelotas basin. The area is home to exploration blocks earmarked for auction at Brazil's next oil and gas licensing round later this year.
The Inter-American Development Bank (IDB) has endorsed natural gas as the most technically and economically viable option for diversifying the oil-dependent power grids in the two regions.
Mexico is looking to govern foreign investment in its energy sector as part of the update to its 15-year-old free trade agreement with the European Union, according to the foreign ministry.
The US has become a key market for benzene, according to Colombia's state oil company.
The company added 1.9Mb of net 2P reserves in the Llanos basin last year.
Gas distribution is scheduled to begin in December.
The company says it is in talks over joint ventures for pre-salt projects as it seeks to slash capital expenditure and fast-track production.
Brazil's state-run oil firm has posted its first annual loss since 1991, calculating the cost of corruption at US$2bn. BNamericas looks at what the company's 2014 results mean.
The Brazilian engineering group has airport, tunnel and railway works lined up.