New York, Dec 05: Mexico’s state-run oil company Pemex has signed a pact with Mukesh Ambani-led Reliance Industries for exchange of expertise and technology within the hydrocarbons sector, news reports aforesaid Fri.

Pemex, in step with the reports, has been searching for a lot of cooperation with India. an analogous accord was stricken earlier this year with the overseas arm of India’s state-run adventurer, the Oil and gas firm.

“The deal, signed by Pemex CEO Emilio Lozoya and the (executive) director of Reliance Industries P.M.S. Prasad, conjointly establishes that each firms can put together explore business opportunities in numerous areas of the hydrocarbons chain, each in exploration and production also as processing and industrial transformation,” financial Times aforesaid.

“The agreement involves each firms put together explore business opportunities in numerous areas of the hydrocarbon chain, each problems with exploration and production, and processing and industrial process,” according El Horizonte.

Both firms conjointly in agreement to jointly promote property activities and social responsibility schemes, so sharing data and data in that line.

Pemex has been sign language a bunch of cooperation agreements recently because the country prepares to open up its oil sector with the primary bidding round next year.