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Jul 22, 2008 | 13:02 GMT

Mexico: Pemex Could Drill Outside Mexico If Reforms Fail

Mexican energy firm Petroleos Mexicanos (Pemex) could drill for crude outside Mexico for the first time if lawmakers do not approve reforms that would allow the firm to hire foreign partners for domestic offshore projects, Bloomberg reported July 22. Pemex CEO Jesus Reyes Heroles said the firm might look for partners on the U.S. side of the Gulf of Mexico, in Latin America and off the Cuban coast if Mexico's legislature does not adopt reforms proposed by President Felipe Calderon. Pemex does not have the technology to drill in water deeper than 1,640 feet.
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