Mex­ico awards first deep-wa­ter con­tract

China Daily (Hong Kong) - - BUSINESS -

Mex­ico’s state-owned oil com­pany Pe­mex said on Mon­day that it has awarded its first con­tract with a pri­vate firm for a joint op­er­at­ing agree­ment in deep-wa­ter oil drilling. The deep-wa­ter field known as the Trion block will be de­vel­oped by the Aus­tralian firm BHP Bil­li­ton un­der a “farm-out” agree­ment in which the lease­holder of an oil­field grants an op­er­at­ing in­ter­est to an­other com­pany

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