GE, Pemex ink MOU

GE and Mexico’s state-owned oil and gas company Pemex on Thursday signed today a Memorandum of Understanding (MOU). The MOU was signed in New York with the presence of Pemex CEO, Emilio Lozoya Austin and GE’s Chairman and CEO, Jeff Immelt.

According to GE the MOU sets the framework for GE and PEMEX to work together on technological and financial solutions for gas compression, power generation and hydrocarbons production, onshore and offshore, including subsea and downstream.

Also, GE will explore opportunities for the local expansion of its manufacturing and engineering capabilities, and will foster the implementation of technologies based on the Industrial internet –the internet of things. Finally, both companies will share best practices on training and human resources, GE said in a statement.

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