TORONTO – Pacific Rubiales Energy Corp. has entered into a three-year memorandum of understanding (MOU) with PEMEX, establishing the basis for discussions and analysis of potential oil and gas cooperation in Mexico. It includes exploration, deepwater projects, revitalization of mature fields, heavy and extra-heavy oil onshore and offshore fields, high-water production fields, and other upstream activities.
The MOU establishes a cooperative framework in order to exchange technical knowledge, information, experiences, and practices, as well as any other mutually identified areas of interest. These may include upstream, midstream, human capital, environmental and safety, knowledge, and opportunities.
CEO Ronald Pantin said, “We are very pleased to be one of the first foreign independent oil and gas producers to sign an agreement with PEMEX, and we look forward to working together to develop a sustainable energy sector in Mexico.”