Petronas seeks deepwater foothold offshore Latin America
The offshore and subsea services sector in Latin America could have another high-profile client to woo now that Malaysian state-owned oil and gas company Petronas has signed agreements with Mexico’s Pemex and Argentina’s YPF in an attempt to grow its business in the region.
Petronas and Pemex agreed to share knowledge and best practice for deepwater projects, mature fields, heavy and extra heavy crudes, and possibly to develop projects related to natural gas and infrastructure.
Petronas, Pemex and YPF signed a tripartite memorandum of understanding (MOU) which covers the sharing of experiences and best practices related to exploration and production of oil and gas.
Announcing the agreements at the end of September, Petronas president and group CEO, Tan Sri Datuk Shamsul Azhar Abbas, said: “Petronas has always believed in the importance of having the right partners for growth, and Pemex provides a natural choice being the Mexican national oil company. Meanwhile, the Tripartite MOU is an extension of our collaboration with YPF in Argentina.
“These MOUs will hopefully provide a strategic platform for growth to complement and provide optionality to our North American resource base,” he added.