What are the main areas of cooperation covered by the Petrobras–Pemex MoU?

The MoU covers joint evaluation and development of exploration and production opportunities—including deepwater and ultra-deepwater areas, mature field revitalization, and pre-salt potential in the Gulf of Mexico—as well as cooperation in refining, petrochemicals, fertilizers, gas processing, energy efficiency, carbon capture and storage (CCS), and lower-carbon fuels.

How does Petrobras’ CEO characterize the strategic scope of this partnership beyond Mexico?

Petrobras’ CEO Magda Chambriard stated the partnership’s scope is not limited to Mexico and could extend to Africa and Brazil itself, emphasizing that it will apply 'wherever our teams determine there is an opportunity,' and expressing confidence that the Mexican Gulf holds vast oil volumes similar to those found in the US portion and Brazil’s pre-salt, based on applying the same geological questions and new technologies.

Brazil’s Petrobras, Mexico’s Pemex sign MoU eyeing Gulf pre-salt frontier, petchems and fertilizers

Jun 23, 2026

Brazil's Petrobras and Mexico's Pemex signed an MoU for cooperation in oil exploration, petrochemicals, and fertilizers, targeting Gulf pre-salt resources and refining capabilities without immediate binding investment commitments.

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