Egypt’s Cheiron Holdings Ltd. won the rights to partner with Mexican national oil company Pemex on its onshore Cardenas-Mora project, the industry regulator said Oct. 4.
The tie-up marks only the second joint venture between the Pemex and an equity partner since an energy opening finalized in 2014 ended the company’s decades-long monopoly and allowed it to develop projects with private and foreign oil companies.
Cardenas-Mora is a 168-sq-km (65-sq-mile) field located in Tabasco state that is believed to contain 93 million barrels of oil equivalent in proven, probable and possible reserves.
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