Petroleos Mexicanos and GE signed a memorandum of understanding (MOU) within the framework of the quarterly meeting of the General Electric Executive Council in Crotonville, N.Y., with the presence of Emilio Lozoya, CEO of Pemex, and Jeff Immelt, Chairman and CEO of GE.
In response to the new situation of the Mexican market, Pemex is on the road of transformation and has redesigned its business strategy in order to find partners that will allow the company to strengthen its operational capacities, share execution risks , and generate new businesses, said Lozoya.
The agreement establishes a framework of joint work between the two companies and includes technological solutions and financing for gas compression, power generation and hydrocarbon production both offshore and onshore, including deep water systems.
Also, GE will review opportunities for expansion of its local engineering and manufacturing capabilities, in addition to promoting the implementation of technologies based on the "Industrial Internet" (Internet of things), that is, the integration of complex physical machinery with networked sensors and software. Moreover, both companies will share best practices in the field of training and human resources.
A successful sample of the partnership between GE and Pemex is the modernization of Petroleos Mexicanos' fertilizer factory located in Coatzacoalcos, which represents a fundamental contribution to the recovery of the fertilizer production in the country from the optimal use of gas in order to reduce dependence on imports. GE will offer a turnkey solution to renew the performance and efficiency. The recently restored plant will serve about 25 percent of domestic demand for fertilizers and 90 percent of urea.