Thursday, 4 December 2014

RIL Inks Deal to Explore Oil, Gas in Mexico

India’s Reliance Industries and Mexican state-owned company, Petroleos Mexicanos (PEMEX) have signed a deal for cooperation in upstream oil and gas production as well as in refining business.

RIL will cooperate with PEMEX for assessment of potential upstream oil and gas business opportunities in Mexico and jointly evaluate value added opportunities in international markets.

RIL and PEMEX will also share expertise and skills in the relevant areas of oil and gas industry, including for deep-water oil and gas exploration and production.

The MoU envisages sharing of RIL’s pioneering expertise in deep-water development and best practices in East Coast of India and RIL’s experience in shale gas in United States.

RIL will also provide technical support and share experience with PEMEX for refining value maximization and other technical optimization strategies.


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