Pemex partners to invest $250m in two onshore blocks in Mexico

MEXICO CITY, Mar 06 (Reuters): Two private partners of Mexico's state-run oil company Pemex will invest a combined $250 million in two projects over the next four years as they aim to quickly ramp up crude output, according to plans approved on Tuesday.

The joint venture partnerships with Pemex were initiatives championed by Mexico's previous government following a sweeping 2013 energy reform, but have come under sharp criticism from current President Andres Manuel Lopez Obrador, who favors a more state-centric oil policy.

DEA Deutsche Erdoel holds the partnership rights with Pemex on its Ogarrio block and the development plan approved Tuesday by Mexico's independent oil regulator calls for fresh investment of $161 million through 2023.