October 4, 2017 / 4:43 PM / a year ago

Egypt's Cheiron wins tie-up with Pemex for Mexican onshore oil field

MEXICO CITY (Reuters) - Egypt’s Cheiron Holdings Limited won the rights to partner with Mexican national oil company Pemex on its onshore Cardenas-Mora project, the industry regulator said on Wednesday.

The tie-up marks only the second joint venture between the Pemex and a 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 65-square-mile (168 sq km) field located in Tabasco state believed to contain 93 million barrels of oil equivalent (boe) in proven, probable and possible reserves.

Reporting by David Alire Garcia

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