April 3, 2013 / 4:11 PM / in 5 years

Mexico's Pemex, Exxon Mobil ink technical collaboration deal

MEXICO CITY, April 3 (Reuters) - The exploration and production arm of Mexican state oil monopoly Pemex announced Wednesday that it has signed a five-year technical collaboration agreement with Exxon Mobil.

The agreement between Pemex’s PEP division and the U.S. oil major involves joint efforts in research, scientific development, technology as well as training in exploration, drilling, production, transportation and storage of hydrocarbons, Pemex said in a statement.

The Mexican company said the agreement does not include any compensation and is “non-commercial” in nature, but did not provided further details.

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