Mexico: Deep-water crude on tap

Petroleos Mexicanos expanded a technology agreement with Brazil

“This opens the possibility of obtaining technological knowledge for drilling and development in deep and ultra-deep waters as well as exploitation of heavy-crude fields,” Calderon said, referring to the Petrobras accord.

Pemex is betting crude oil in Gulf waters at depths of more than 500 meters will compensate in the long-term for the decline in Cantarell, its largest oil field.