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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