Reliance signs MoU with Mexico's PEMEX

Reliance Industries has signed a memorandum of understanding with Mexican state-owned company, Petroleos Mexicanos (PEMEX) for assessment of potential upstream oil and gas business opportunities in Mexico.

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 besides jointly evaluating value added opportunities in international markets. RIL said in a release.

The MOU envisages sharing of RIL’s 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 optimisation strategies, RIL said.

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