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Latino Daily News

Saturday April 12, 2014

Pemex Signs Technology-Sharing Agreement with France’s Total

Mexican state-owned oil company Petroleos Mexicanos has signed an agreement with French energy major Total to exchange technology related to hydrocarbon exploration and production and explore future business opportunities in non-conventional fields.

Pemex said in a statement that it inked one memorandum of understanding with Total and another with Paris-based electric utility GDF Suez coinciding with French President Fran├žois Hollande’s official visit to Mexico, which began Thursday.

The MOU signed with Total “will allow technology exchanges in exploration- and production-related activities, primarily in deep-water areas, as well as in industrial safety and workplace health,” the statement said.

“Pemex and Total pledged to evaluate future business opportunities in non-conventional fields, such as shale gas, and share best practices in refining processes, sulfur recovery, clean fuels and industrial process reconfiguration,” the statement added.

The agreement with Total comes on the heels of last year’s historic overhaul of Mexico’s oil sector that will allow private companies to develop crude reserves for the first time since 1938.

The accord with energy infrastructure company GDF Suez, meanwhile, calls for cooperation projects to protect the environment and support sustainability and the fight against climate change.

It also expresses both companies’ desire to collaborate on infrastructure projects in the natural gas treatment area, as well as the construction of liquefaction and regasification plants.

Pemex CEO Emilio Lozoya and the chief executives of GDF Suez, Gerard Mestrallet, and Total, Christophe de Margerie, signed the agreements.

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