Deep-water drilling is a test for Mexican oil company Pemex

energy -drilling_platform_in_seaThe Washington Post, 01/10/2014

More than 3,000 feet below the waves in the the Gulf of Mexico, with a drill bit wider than a human thigh, Mexico is digging for its future.

The gulf is one of the world’s great largely unexplored reservoirs of oil and gas, industry experts say, but the state-run oil monopoly Pemex so far has lacked the money and technical capacity to extract from its deeper waters. Now that the country has passed legislation opening up its beleaguered oil industry to outsiders for the first time in 75 years, the government is hoping that future partnerships with foreign companies to drill for hard-to-access undersea oil will mean billions of dollars of new revenue.

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