Pemex, ExxonMobil renew know-how sharing deal

MEXICO CITY, Feb 1 (Reuters) - Mexican state oil monopoly Pemex said on Friday it had renewed a collaboration agreement with U.S. oil company ExxonMobil Corp (XOM.N: Quote, Profile, Research) to pool research and technical expertise to help improve production yields.

The noncommercial agreement means the two companies exchange studies and experiences in areas like oil and gas, as well as productivity and recuperation rates.

ExxonMobil first signed the deal in October 2002.

Pemex is barred by Mexican law from forging profit-sharing alliances with private or foreign companies to explore for, or produce, oil or gas in Mexico.

But most foreign oil companies like to keep good relations with the Mexican giant in case there is a loosening in the future of restrictions on foreign investment in Mexico's oil and gas sector. (Reporting by Robin Emmott; Editing by Marguerita Choy)