Pemex, Lukoil Sign Cooperation Agreement

Vagit Alekperov, OAO LUKOIL President, and Emilio Lozoya, General Director of Mexico’s Pemex, signed a cooperation agreement on Friday as part of the World Economic Forum in Davos (Switzerland).

The document was signed in the presence of Enrique Peña Nieto, President of Mexico. The new agreement will serve as a foundation for cooperation between LUKOIL and Pemex in the area of oil exploration and production. Also, the companies will exchange experience in the area of environmental protection.

The agreement will create new opportunities for LUKOIL and Pemex in view of the Mexican energy reform enhancing the industry’s competitiveness in the open market.