Pemex and Chevron sign cooperation agreement

*And so it begins … VL

By EFE

State-owned oil giant Petroleos Mexicanos, or Pemex, said it signed a cooperation agreement with U.S. supermajor Chevron Corp. to seek petroleum industry opportunities that are beneficial for both parties.

The memorandum of understanding, which was signed in Mexico City, acknowledges the long relationship between the companies, Pemex said in a statement.

The companies plan to look at deepwater exploration, production of heavy crude oil, the revitalization of mature fields, natural gas exploration opportunities, refining and fuel distribution, Pemex said.

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