October 4, 2017 / 6:29 PM / in 17 days

Germany's DEA Deutsche Erdoel wins onshore Pemex tie-up in Mexico

MEXICO CITY, Oct 4 (Reuters) - Germany’s DEA Deutsche Erdoel won the rights to partner with Mexican national oil company Pemex on its onshore Ogarrio project, the industry regulator said on Wednesday.

The tie-up marks only the third joint venture between the Mexican oil giant and a equity partner since a sweeping energy opening finalized in 2014 ended Pemex’s decades-long monopoly and allowed the firm to jointly develop projects with private and foreign oil companies.

Ogarrio is a 60-square mile (156 sq km) field located in Tabasco state believed to contain 54 million barrels of oil equivalent (boe) in proven, probable and possible reserves. (By David Alire Garcia)

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