Pemex, Chevron sign deal to pursue E&P projects
Mexico's Pemex has signed an MOU with Chevron for E&P in deepwater, heavy crude and mature oilfields, the latest in a series of agreements the state-owned firm has signed with global oil companies.
The two will also study opportunities in natural gas, refining and fuel distribution, Pemex said in a press release.
In addition, the two companies agreed to seek ways to mitigate the effects of greenhouse gases and achieve sustainable development, Pemex said.
Earlier this month, Pemex signed a similar deal with Pacific Rubiales, also for the potential development of deepwater and heavy crude E&P projects, as well as midstream opportunities.
The NOC has also inked similar cooperation deals with Exxon-Mobil, Petronas, ONGC and YPF.
Pemex has said it expects annual investment in the oil and gas sector to hit US$80bn, while the energy ministry (Sener) said last week it expects investment for the first round of tenders for private sector firms to partner with Pemex to be around US$12.6bn annually.
BNamericas will host its 11th Southern Cone Energy Summit in Lima, Peru, on November 12-13. Click here to download the agenda.
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