May 3, 2013 / 9:15 PM / in 5 years

Mexico's Pemex signs research deal with Norway's Statoil

MEXICO CITY, May 3 (Reuters) - Mexico’s state-owned oil monopoly Pemex signed a five-year non-commercial agreement with Norway’s Statoil to boost research and technological collaboration, Pemex said in a filing with the local bourse on Friday.

The agreement does not include the provision of services, the release said, but Pemex did not offer further details.

The deal comes a month after Pemex announced a similar agreement with Exxon Mobil.

It also comes as Mexican President Enrique Pena Nieto prepares to launch a major overhaul of the Mexican energy sector, aimed at making Pemex more efficient.

Pena Nieto has said he wants to boost stagnating production by luring more private capital into the sector. The Mexican oil industry has been hampered by under-investment and legal bans on private participation.

Statoil, which is two thirds owned by Norway’s government, saw its first quarter profits dampened by production problems at several key fields and lower realized oil and gas prices.

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