July 27, 2016 / 4:11 PM / 2 years ago

Mexico announces bid terms for first deep water oil joint venture

MEXICO CITY, July 27 (Reuters) - Mexico’s oil regulator on Wednesday announced bid terms for a first-ever joint venture between state-owned oil company Pemex and would-be private partners to develop oil reserves in the Gulf of Mexico’s deep waters.

The call for bids to partner with cash-strapped Pemex on the Trion light oil field follows the constitutional energy reform enacted in 2013 which promised to reverse a decade-long slump in crude production. (Reporting by David Alire Garcia, Ana Isabel Martinez and Adriana Barrera)

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