Pemex Inks Deal with Global Water Development Partners

Mexico's Oil Company enters into partnership with Global Water Development Partners

Mexico's state-owned oil company Pemex has entered into a partnership with Global Water Development Partners (GWDP) that aims to invest $800 million in water treatment infrastructure projects

The partnership will focus on storage and residual water treatment projects at Pemex oil production areas both onshore and offshore as well as at refineries and petrochemical plants, the statement said.

It was not immediately clear how much funding each entity would contribute, or which specific projects will be launched first.

GWDP was established last year by U.S.-based Blackstone Energy Partners, the firm's energy-focused private equity business, and is owned by funds managed by the investment firm, according to Blackstone's website.

About Pemex:

Pemex is the largest company in Mexico. It operates through the whole chain of value of the industry, from exploration and production -upstream- to industrial transformation, logistics and marketing – downstream .

They are the most important company in Mexico and one of the largest in Latin America, and their success is reflected in their dedication to the future of Mexico. As the largest tax contributor to the Mexican government, the income they generate helps support all three levels of government: federal, state and municipal. They directly and indirectly participate in the economic and social development of their country. Their operations are geographically dispersed throughout Mexico, and have a presence in almost every state.

Source: Reuters

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