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Pemex research unit, Exxon sign tech pact

April 3, 2013 at 3:27 PM
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MEXICO CITY, April 3 (UPI) -- Pemex, Mexico's state oil giant, said its exploration and production unit signed a five-year technical agreement with Exxon Mobil Corp. Wednesday.

The company said the agreement's goal was to collaborate in research, science, technology and human-resources training for the exploration, drilling, production, transportation and storage of hydrocarbons, MarketWatch.com reported.

The agreement doesn't involve paid services, Pemex said without elaboration.

Mexican President Enrique Pena Nieto had pledged to make oil reform a key issue of his administration in an effort to break a state monopoly. He recently said Pemex wouldn't be sold or privatized, but it would be modernized.

Mexico is a net exporter of crude, MarketWatch.com said, but production has fallen to just below 3 million barrels in 2011 from nearly 4 million barrels in 2003-2004.

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