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MEXICO: Joint venture construction contract award for planned $260,000,000 gas field development...

PROJECT OVERVIEW:

The local PEMEX EXPLORACION Y PRODUCION recently awarded a gas field development contract to an international consortium. The partners in the undertaking and their respective shareholdings include Brazil-based PETROLEO BRASILEIRO S.A. (PETROBRAS - 45%) who will also act as operator, TEIKOKU OIL CO. LTD. of Japan (40%) and GRUPO DIAVAZ of Mexico (15%).

According to the terms of the award, the partnership will be responsible for the development and exploitation of the Cuervito block in the Burgos basin in the North East of Mexico. The Cuerv

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