Emilio Lozoya, Chief Executive Officer of Petróleos Mexicanos (Pemex), announced yesterday that GE Oil & Gas (GE), a unit of U.S. General Electric Co., will be working with the Mexican Petroleum Institute (IMP) in the development of technologies to improve productivity at oil and gas fields in México.
At the signing ceremony IMP director Vinicio Suro Perez and GE Oil & Gas president and CEO for Latin America João Geraldo Ferreira, said the initial phase of the agreement calls for research on technologies for the “optimization of mature offshore fields and the development of projects in shallow waters, deepwater and ultradeep waters.”
The Pemex CEO said México’s energy industry reforms will allow Pemex to become more competitive, expanding investment in human resources and technology as it deals with the industry’s future challenges.
IMP director, Perez added that the agreement with GE Oil & Gas will open the way for increasing the productivity of oil wells, slowing the natural decline of fields and expanding hydrocarbons reserves.
(Latin American Herald Tribune)
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