Mexico will offer the rights to partner with state oil company Pemex on three major projects on Wednesday, one in the shallow waters of the Gulf of Mexico and two more onshore, the latest step in opening country’s oil and gas industry.
The three joint ventures, or farm-outs, aim to help Pemex, formally known as Petroleos Mexicanos, develop areas with private capital and expertise.
In each case, Pemex would retain a 50 percent stake in the project but will cede operational control.
The auction run by industry regulator, National Hydrocarbons Commission, is only the second time partnership rights . . .
