Petrobras and Pemex Sign Two‑Year MOU to Study Gulf of Mexico Deepwater and Mature‑Field Opportunities

Overview

• The memorandum of understanding was signed on Tuesday at Petrobras’ Rio de Janeiro headquarters and is valid for two years with the option to renew.
• The MOU is explicitly non‑binding and does not commit either company to invest, form a joint venture, or create a consortium.
• Workgroups and joint technical studies will begin to assess projects in deep and ultra‑deep waters, plans to revitalize mature fields, and the feasibility of downstream cooperation.
• Petrobras says it will offer seismic, processing, interpretation and drilling methods developed for Brazil’s pre‑salt plays while Pemex seeks ways to boost output after years of financial strain that have hurt customers such as Braskem Idesa.
• If studies show viable projects, next steps will require detailed feasibility analysis, internal approvals and negotiations, and the pact could affect regional energy supply, refining feedstock and petrochemical inputs.