Saudi Arabian Oil Company (Saudi Aramco) and Petroleos Mexicanos (Pemex) signed a Memorandum of Understanding (MOU) establishing a collaborative framework between both companies.

Amin H. Nasser, Saudi Aramco President & CEO and Emilio Lozoya, Chief Executive Officer of Pemex signed the MOU at a ceremony at Saudi Aramco headquarters in Dhahran.

Under the terms of the MOU, both companies engage in several areas of collaboration and knowledge sharing, including the exchange of information on best practices in upstream and downstream operations and related support services. The MOU also establishes a collaborative basis for the exchange of information on best practices in the areas of operational excellence, sustainability and energy efficiency, innovation and technology development.

Saudi Aramco President & CEO said “the signing of an MOU with Pemex encourages a mutually-beneficial relationship for the best interest of our companies. Both Saudi Aramco and Pemex will benefit from the exchange of skills, best practices, and experiences through mutual collaboration. This MOU will help us identify opportunities to cooperate, and allow us to share best practices in our core business operations and areas like support services.”

Emilio Lozoya, Chief Executive Officer of Pemex said “this MOU reinforces and enhances a long time close relationship between our companies. We both face the same challenges regarding achieving an efficient, safe and low cost production that should be sustainable at the same time. I am certain that with this renewed collaboration and exchange of best practice both companies win.”

During his visit to Saudi Aramco headquarters, Mr. Lozoya visited company facilities, including the geo-steering center, the Upstream Professional Development Center and toured Manifa offshore field.

About Saudi Aramco

Saudi Aramco, a fully integrated, global petroleum and chemicals enterprise, is the state-owned oil company of the Kingdom of Saudi Arabia.
Through our 80-year history we have become a world leader in hydrocarbons exploration, production, refining, distribution, shipping and marketing, and the world’s top exporter of crude oil and natural gas liquids (NGLs).

About Pemex

Pemex, Mexico's state oil company, is engaged in the exploration, production, transportation, refining, storage and sale of hydrocarbons and derivatives. Its products include petrochemicals, natural gas, liquid gas, sulphur, gasoline, kerosene and diesel. Pemex operates 344 production fields, 6,382 production wells, 225 off-shore platforms, 6 refineries, 8 petrochemical complexes, 7,896 km of gas pipeline, 4,548 km of oil pipeline, and 19 LPG distribution terminals.