June 20, 2019 / 9:20 PM / 4 months ago

Mexico's Pemex will not invest in deepwater Gulf projects

LEON, Mexico, June 20 (Reuters) - Mexican national oil company Pemex has no plans to invest in deepwater Gulf of Mexico projects during the current government and instead will focus its exploration and production budget in shallow water and onshore areas, the firm’s chief financial officer said on Thursday.

“We are not going to invest in those types of developments,” said CFO Alberto Velazquez at an oil conference in the Mexican city of Leon, referring to deepwater projects.

Reporting by Ana Isabel Martinez; Writing by David Alire Garcia; Editing by Dan Flynn

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