Pemex, First Reserve ink US$1B cooperation agreement

Petroleos Mexicanos (Pemex) and First Reserve, a global private equity and infrastructure investment firm exclusively focused on energy, have signed a US$1 billion agreement to mutually invest in energy infrastructure for Mexico.

The first of such investments, in the Los Ramones pipelines, was announced in March. Construction on the expected 744 kilometers of natural gas pipelines has begun and full commercial operations are expected in mid-2016.

William Macaulay, chairman and co-CEO of First Reserve, commented, "As global investors, First Reserve is excited to be expanding our existing portfolio in Mexico, where we have believed there to be attractive investment opportunities for some time. Through formal collaboration with Pemex, we feel we have gained substantial access to a region with strong supportive macro dynamics alongside a motivated and accomplished partner. “



Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...