Pemex will avoid investing in deepwater offshore projects, instead focusing on areas where it has experience, including the shallow waters of the Gulf of Mexico and onshore fields, Reuters quoted a senior executive as saying.
The Mexican state energy company has been struggling to reverse a production decline that has been going on for more than a decade, but it is also struggling under a substantial debt load, and despite government efforts to prop up its finances, has obviously decided not to go into high-cost deepwater projects for the time being.
Brazil Energy Insight 
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