Reliance, Pemex JV potential upstream oil gas business opportunities in Mexico

Reliance, Pemex JV for potential upstream oil and gas business opportunities in Mexico

12:12 PM, 8th December 2014
Reliance, Pemex JV for potential upstream oil and gas business opportunities in Mexico

MUMBAI, INDIA: Reliance Industries Limited (RIL) and the Mexican state owned company, Petroleos Mexicanos (Pemex) have entered into a Memorandum of Understanding (MOU). As per the MOU, 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 deepwater development & 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 maximisation and other technical optimization strategies. RIL and Pemex will also collaborate to exchange experiences on environmental and social responsibility front.

The signing of the MOU marks further strengthening of the long standing relationship between RIL and Pemex.

RIL’s cooperation with Pemex is in line with its growth strategy to explore opportunities to expand its international asset base in regimes having internationally attractive competitive terms. The company hopes to leverage its organizational capabilities and expertise to create long term value for Exploration and Production Business and for RIL on the whole.

© Worldofchemicals News

0 Comments

Login

Your Comments (Up to 2000 characters)
Please respect our community and the integrity of its participants. WOC reserves the right to moderate and approve your comment.

Related News


Eastman completes acquisition of Taminco

KINGSPORT, US: Eastman Chemical Company announced the completion of its acquisition of Taminco Corporation, a global specialty chemical company, for a ...

Read more
Bioplastics production made much greener

ZURICH, SWITZERLAND: Polylactic acid is a degradable plastic used mostly for packaging. To meet the rising demand, ETH researchers have developed an e ...

Read more
Zeolites net new carbon allotropes

FRANKFURT, GERMANY: Previously unknown carbon allotropes have been predicted by scientists exploring their links with well-known network topologies. T ...

Read more
Newly developed nanoparticle cluster manufacturing technique using DNA binding protein

DAEJEON, SOUTH KOREA: Researchers at KAIST developed a new manufacturing technique for size-controllable magnetic nanoparticle clusters (NPCs) using t ...

Read more
Research towards making “artificial leaf” to produce clean hydrogen fuel

WASHINGTON DC, US: For years, scientists have been pursuing “artificial leaf” technology, a green approach to making hydrogen fuel that co ...

Read more
Gut bacteria from worm can degrade plastics, finds study

WASHINGTON DC, US: Plastic is well-known for sticking around in the environment for years without breaking down, contributing significantly to litter ...

Read more
www.worldofchemicals.com uses cookies to ensure that we give you the best experience on our website. By using this site, you agree to our Privacy Policy and our Terms of Use. X