US, Mexico sign GoM maritime boundary development agreement

Offshore staff

LOS CABOS, Mexico – The United States and Mexico have agreed to cooperate in oil and gas developments along the maritime border between the two countries in the Gulf of Mexico.

U.S. officials said that the agreement does not authorize any new projects, but does provide a legal certainty that would allow companies to move ahead on oil and gas development.

Under the deal, companies from the United States and Mexico could collaborate on projects that cross the boundary but would be able to go ahead alone if they do not find a partner.

2/22/2012

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