Petroleos Mexicanos (Pemex) and Pacific Rubiales Energy Corp., which has a base in Colombia and claims to be the largest independent oil and gas producer in Latin America, have entered into a three-year memorandum of understanding (MOU) to analyze potential oil and natural gas cooperation in Mexico. This will include exploration, deep-water projects, revitalization of mature fields, heavy and extra-heavy oil onshore and offshore fields, high water production fields and other upstream activities.
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