Pacific Rubiales and Alfa form joint venture

MEXICO CITY, December 8, 2014 – A joint venture was formed on December 4 between Mexican multinational firm Alfa S.A.B. and Canada’s Pacific Rubiales Energy Corporation with the purpose of bidding in Mexico’s Round One Tender as a part of which a total of 183 blocks oil blocks will be awarded in 2015.

The joint venture will be divided between both companies by 50 percent ownership and represents Alfa’s first push into the realm of exploration production after more than 40 years of experience in the downstream sector. Midstream activities represent another focus of the joint venture as Mexico looks to expand the country’s existing hydrocarbons infrastructure in anticipation of increased oil and gas production.

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