Petroleos Mexicanos, through PMI International Trade, and Kuwait Foreign Petroleum Exploration Company (KUFPEC) signed a memorandum of understanding (MOU) to share technical and commercial information to evaluate and develop joint business opportunities in exploration and production of oil and gas, both in Mexico and abroad.
The agreement, which is given in the context of the recently adopted Energy Reform, is the first oil field in history is between Mexico and Kuwait. In the presence of the CEO of Pemex, Emilio Lozoya, signed the document KUFPEC CEO, Shaikh Nawaf Saud Nasir Al-Sabah, and José Manuel Carrera Panizzo, CEO of PMI.
Both were pleased this new relationship will allow initiating projects of mutual benefit.
KUFPEC is a subsidiary of Kuwait Petroleum Corporation engaged in the exploration, development and production of oil and natural gas outside Kuwait. He currently works in 14 countries with 60 projects in the international upstream sector (marine areas). Plan to arrive at 2020 with a production of 200 thousand barrels per day and reserves of 650 million oil equivalent.
