Sign In
Skip Navigation LinksPress room | Press releases | Pemex subscribes memorandums of understanding with three arab oil companies

Pemex subscribes memorandums of understanding with three arab oil companies

19/01/2016 | 6
  • The agreements were subscribed within the frame of President Peña Nieto´s visit
In the context of President Enrique Peña Nieto´s visit to the Persian Gulf Arab countries, Petróleos Mexicanos subscribed today two memorandums of understanding (MOU´s) with Mubadala Petroleum and ADNOC, both United Arab Emirates oil companies. These agreements are added to the one previously signed during this tour with Saudi Aramco.
The MOU´s were signed by Emilio Lozoya, PEMEX´s CEO.
The agreement with Mubadala establishes projects in which both companies will work together and explore business opportunities in the Mexican energy sector.
It includes upstream activities within the national territory, as well as primary midstream and infrastructure projects with investments above 4 billion dollars. The MOU specifies projects such as commercial logistic infrastructure systems in the Salina Cruz, Oaxaca area, with an approximate investment above 3 billion dollars.
In this regard, joint or third party investments will be promoted to broaden and enhance PEMEX´s facilities and improve the administration and processing of crude in oil fields, as well as the quality of the crude oil mixes. This MOU also includes cogeneration projects.
The collaboration and potential association with Mubadala responds to PEMEX´s interest in reducing operational, execution and market costs, taking advantage of the faculties granted by the Energy Reform to create joint-ventures with world class partners.
Similarly, the MOU with ADNOC will allow the exchange of both companies’ best practices including different upstream activities: exploration, development and production in oil fields, improved recovery, handling and processing of liquefied natural gas; as well as human resources training, sustainability, internal control, transparency, process development and cybersecurity.
On the other hand, the MOU subscribed with Saudi Aramco renews and strengthens the relationship between both companies and establishes the dialog grounds to explore distinct cooperation and knowledge exchange alternatives.
The agreement includes operation and support services in both downstream and upstream; knowhow exchange on operational excellence politics; sustainability and energy efficiency; as well as innovation and technology development.
Both PEMEX and Saudi Aramco are members of international initiatives such as the energy companies of the World Economic Forum and the Oil and Gas Climate Initiative (OGCI). The OGCI was announced last year and attempts to provide a full spectrum on what the oil sector is currently doing to address climate change, and what it is prepared to do through best practice sharing and collaboration within the industry.
The three MOU´s were signed by the companies’ CEO´s: Musabbeh Al Kaabi for Mubadala Petroleum; Abdulla Nasser Al Suwaidi for ADNOC and Amin H. Al-Nasser for Saudi Aramco.
Las menciones de Pemex pueden referirse a Petróleos Mexicanos o a cualquiera de sus Empresas Productivas Subsidiarias.
Last Modified 15/02/2016 19:34 Pemex