BHP has signed a MoU with Petroleos Mexicanos (Pemex) focused on technical knowledge and practices related to the oil and gas industry.
The major focus on on deepwater oil and gas expertise.
At the signing of the agreement, BHP petroleum president Tim Cutt said the company sees "considerable opportunity in Mexico following the recent economic reforms, and we are excited about the deepwater and the extension of the Paleogene play into the Perdido play".
“We are very pleased to have the opportunity to work with Pemex due to its exceptional capability and experience. We are confident that we are one of the lowest cost and best drillers in the deepwater Gulf of Mexico.
"We have proven we can build projects better and faster than most operators, and our offshore facilities have some of the highest operational uptimes and safety records anywhere in the world. We look forward to sharing our technical knowledge and experience with our Mexican partners."
The agreement comes just months after BHP's drilling rig Deepwater Invictus arrived in the Gulf of Mexico.
"What we can offer is absolute focus as Mexico seeks partners to help develop its enormous petroleum resources. Right now, our global offshore organisation is capable of moving with considerable speed, safety, agility, and flexibility," Cutt added.
The growth of BHP's energy division is one of the key components of the newly demerged company.
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