MEXICO CITY: The board of Mexican state oil company Pemex approved a joint venture for two shallow water fields in the Gulf of Mexico, the firm said on Tuesday, marking the second time the company will seek partners to boost declining crude oil output.
The joint venture will cover Pemex's Ayin and Batsil fields off the coast of Campeche state, which contain 46 million barrels of oil equivalent in proven reserves. Pemex's partner in the shallow water joint venture could be announced in March 2017, the company said.
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