RIL, Mexican firm join hands for oil and gas hunts
- Livemint" target="_blank">Livemint
- December 8, 2014
Mumbai: Reliance Industries Ltd (RIL) and Mexican state-owned company Petroleos Mexicanos (Pemex) have entered into a memorandum of understanding (MoU) for cooperation in the oil and gas sector.
According to the MoU, RIL will cooperate with Pemex for assessment of potential upstream oil and gas business opportunities in Mexico and jointly evaluate value-added opportunities in international markets.
RIL and Pemex will also share expertise and skills in the relevant areas of the oil and gas industry, including for deep-water oil and gas exploration and production, said a note issued by RIL.
The MoU envisages sharing of RIL’s pioneering expertise in deepwater development and experience in shale gas in US.
RIL will also provide technical support and share experience with Pemex for refining value maximization and other technical optimization strategies, the note added.
At 11am, shares of RIL were trading at Rs.964.50 per share, up 0.62%. The BSE Sensex was trading at 28,585, up 0.08%
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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