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Oil Leak

Pemex Signs Deal to Use BP's Well-Capping Technology in Gulf

Mexico's state-owned oil company Petroleos Mexicanos, or Pemex, signed an agreement Tuesday with oil firm BP PLC (BP) to share technical information about emergency well-capping in the deep waters of the Gulf of Mexico, with BP offering Pemex the benefit of lessons learned following the 2010 Deepwater Horizon oil spill and response, the two companies said in a joint statement.The agreement will allow Pemex access to technical information to build, operate and maintain well-control systems in deep waters that were developed by BP, the firms said.The announcement comes as Pemex ramps up its exploration efforts in the deep waters of the Gulf, where the oil monopoly has limited experience and no production. Members of Mexico's watchdog National Hydrocarbons Commission have insisted that Pemex take steps to deal with the possibility of having to control an oil spill in deep waters.Prior to BP's months-long oil leak from a deepwater well offshore Louisiana in 2010, Pemex's nearly year-long o...

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