(The following is a reformatted version of a press release issued by BP and received via electronic mail. The release was confirmed by the sender.) PEMEX E&P AND BP ANNOUNCE AGREEMENT TO SHARE TECHNOLOGY, EXPERTISE FOR DEEPWATER WELL CAP 23 October 2012 HOUSTON -- Petroleos Mexicanos Exploration and Production (PEMEX E&P) and BP today announced an agreement for BP to share the technical information it used to build its global deepwater well-capping equipment. Under the Technology License Agreement, BP will make available technical information that PEMEX E&P, one of four subsidiaries of PEMEX, can use, in addition to PEMEX E&P initiatives already in place, if it decides to build and maintain its own well capping system for use in Mexican waters of the Gulf of Mexico. In addition, BP has agreed to conduct workshops in Houston to brief PEMEX E&P on the technical information and operational aspects of the system, as well as to introduce PEMEX E&P specialists to key vendors and fabricators that BP used to develop its global deepwater well cap and tooling package. “The agreement marks another step forward in PEMEX E&P’s ongoing efforts to help protect the rich Gulf of Mexico environment in which we operate, as well as to apply state-of-the-art technology as we develop Mexico’s deepwater oil and natural gas resources,” said Carlos Morales, president of PEMEX Exploration and Production. Richard Morrison, BP’s Head of Global Deepwater Response, said the agreement underscores BP’s commitment to sharing lessons learned during and following the 2010 Deepwater Horizon accident and response. “Today’s announcement builds on our commitment and the work we have done -- and continue to do -- to help advance global deepwater response capabilities around the world,” he said. “We are pleased to provide PEMEX E&P with access to our recent technological innovation and information so that operators in both the USA and Mexico areas of the Gulf of Mexico can be equipped to respond to a subsea well control incident in the Gulf of Mexico.” BP’s global deepwater well cap is a 100-ton stack of valves that can be lowered onto a leaking well to halt the flow. The system can operate in 10,000 feet of water and is rated to pressures of 15,000 pounds per square inch. Stored in Houston, it can be sent by heavy-lift aircraft to any country where BP operates in a matter of days. Under the Technology License Agreement, BP will share at no cost to PEMEX E&P technical information on BP’s capping stack, and PEMEX E&P has agreed to make any future advancements to this well-capping technology available at no cost to BP. BP will retain intellectual property rights, so it can continue to share the plans with others. BP, which has had a presence in Mexico for around 50 years, has collaborated with PEMEX E&P through a variety of non-commercial technology, scientific and training mutual cooperation agreements over the last decade. Those have resulted in hundreds of workshops, seminars and exchanges to share best practices and technological expertise. Media Contacts: PEMEX Press Office, Eduardo Marin: (+52 55) 1944-9135 BP Press Office, Houston: 281-366-4463, email@example.com Additional Information PEMEX, the Mexican national petroleum company, is the largest company of Mexicos and Latin America and the most important fiscal contributor in Mexico. It is one of the few oil companies in the world that develops all of the productive chain of the industry, from exploration and production, refining and petrochemicals to the distribution and commercialization of all the products. BP is one of the world’s leading integrated oil and gas companies. With around 80,000 staff worldwide, BP operates or markets its products in more than 80 countries, providing customers with fuel for transportation, energy for heat and light, lubricants, and petrochemical products that are used in everyday products. Further Information: Name: BP US Press Office Phone: (281) 366-4463 Email: firstname.lastname@example.org (bjh) NY #<873920.6606188.8.131.52.0.76>#
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PEMEX E&P, BP TO SHARE TECHNOLOGICAL INFO ON WELL CAPPING
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