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BP to maintain footing in Gulf of Mexico
by Daniel J. Graeber
London (UPI) Apr 11, 2013


GDF Suez inks MOU in Mexican energy sector
Mexico City (UPI) Apr 11, 2013 - French energy company GDF Suez said Friday it signed a memorandum of understanding to develop natural gas prospects in Mexico.

Gerard Mestrallat, chairman of GDF Suez, signed the measure Friday with Emilio Lozoya, his counterpart at state-owned Petroleos Mexicanos, known also as PEMEX.

"For GDF Suez, the signing of this memorandum illustrates the participation of our group in developing energy infrastructure in Mexico," Mestrallat said in a statement. "A central part of our strategy is to accelerate our presence in fast growing markets, and Mexico is clearly a very attractive one."

PEMEX said in a separate statement the deal with the French energy company lays the foundation for the development of technology that would help curb climate change through energy efficiency efforts and the overall reduction of greenhouse gases.

The deal is the first of its kind for GDF Suez and extends for two years. The French company said it has an established presence in the Mexican energy sector, however, with a total installed capacity of 279 megawatts from three separate power facilities.

Despite the fourth anniversary of the Deepwater Horizon incident approaching, BP says it's committed to playing a major role in Gulf of Mexico operations.

Eleven rig workers died when a series of cascading failures at the Deepwater Horizon rig, which BP leased from Transocean, caught fire and sank in the Gulf of Mexico on April 20, 2010. According to U.S. government estimates, about 4.9 million barrels of oil spilled in months following the accident.

BP Chief Executive Officer Bob Dudley said during an annual meeting the Gulf of Mexico was a central part of the company's portfolio.

"We remain very committed to BP playing a major part in the future prosperity of the Gulf of Mexico region, where we invest billions, employ about 2,300 people and support tens of thousands more jobs in other businesses," he said Thursday.

Last month, BP won its first bids on acreage in the Gulf of Mexico since the incident. The company was barred from bidding on federal contracts as a result of the 2010 spill, but in March reached an agreement with the Environmental Protection Agency to reverse the ban.

"Our explorers are looking forward to returning to the Gulf as we pick up the momentum from 2013 and forge ahead as an even safer, stronger BP in search of the best value opportunities across the world," Dudley said.

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