RIL signs MoU with Mexico's Pemex.

Reliance Industries Limited (RIL) has signed a Memorandum of Understanding (MOU) with Mexican state owned company, Petroleos Mexicanos (PEMEX), for assessment of potential upstream oil and gas business opportunities in Mexico and jointly evaluate value added opportunities in international markets.

RIL and PEMEX will also share expertise and skills in the relevant areas of oil and gas industry including for deep-water oil and gas exploration and production.

The move is in line with RIL's strategy to explore opportunities to expand its international asset base in regimes that have internationally attractive competitive terms.

RIL will also provide technical support and share experience with PEMEX for refining value maximisation and other technical optimization strategies.

The two companies will also collaborate on the environmental and social responsibility front.

BS