GE Oil & Gas, Petróleos Mexicanos (PEMEX), and the Mexico Institute of Petroleum (IMP), have signed a technology collaboration agreement focused on the oil and gas sector.

The deal will initially research technologies needed to help PEMEX enhance productivity and efficiency in mature onshore fields and to develop deep and ultra-deep water projects.

Under the deal, GE will collaborate with IMP on three specific technology areas at the outset, which include improving the efficiency of a mechanical flow device that may provide PEMEX significant recovery rate benefits in hundreds of wells.

Other technology areas include increasing the reliability of downhole equipment in the onshore oil fields operated by PEMEX.

The deal also includes the development of monitoring and inspection technologies for subsea equipment, enabling PEMEX to develop future deep water projects in a safe way.

GE Oil & Gas Latin America president and CEO João Geraldo Ferreira said the company is committed to Mexico, technology innovation, and partnering with its customers on research and development.

"By offering a wide array of oil and gas technologies, backed by our global network of research labs, we can help Mexico develop the energy resources and energy workforce needed for the 21st century," Ferreira said.