Pemex signs deal with German and Colombian firms

Mexico (Notimex) -- Mexican state-controlled oil company Pemex has signed contracts with Germany's Deutsche Erdoel and Colombia's Ecopetrol to explore shallow waters.

The contracts are part of Mexico's Round 2 of its sweeping energy reform.

"The Deutsche Erdoel deal will allow Pemex to collaborate with a company that has more than a century of experience in the market and has developed projects in the UK, Norway, Egypt and Germany," Pemex said.

For block 8, Pemex is the operator with a 50 percent stake in the projects in the southeast basins, in a consortium with Ecopetrol.

This will allow Pemex to begin a business partnership with one of the largest oil firms in South America.

Photo: Second left: Mexican Energy minister Pedro Joaquín Coldwell. Far right: Pemex CEO José Antonio González. Image: Jessica Espinosa/Notimex



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