MoU
Petrobras and Pemex agreed on Tuesday to explore joint oil and gas projects, as Petrobras looks to apply its deepwater expertise in the Gulf of Mexico.
The companies announced the signing of a two-year memorandum of understanding as Pemex seeks a turnaround from years of crippling debt and plummeting production.
Petrobras is recognised globally for its expertise in extracting deepwater oil reserves, which remain under-explored on the Mexican side of the Gulf of Mexico.
