U.S. Secretary of State Hillary Clinton and Mexican Foreign Minister Patricia Espinosa signed an agreement today for joint development of oil and and natural gas reservoirs that straddle the two nations' maritime boundaries in the Gulf of Mexico.
The agreement is the first of its kind signed by the U.S., establishing a legal framework and creating incentives for U.S. energy companies to develop oil and gas resources jointly with Petroleos Mexicanos, the Mexican state oil company known as Pemex.
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--Jack Z. Smith
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