Pemex, Telvent Ink Contracts Worth US$12mn

Mexico's state oil company Pemex and Spanish IT firm Telvent GIT (Nasdaq: TLVT) have signed contracts totaling more than 9mn euros (US$12mn).

Telvent will provide the management platform for Pemex's storage and distribution depots and upgrade several of the oil company's technological systems, the Spanish firm said in a statement.

One of the projects entails supplying technology, licenses and maintenance of 25 storage and distribution depots at different locations in Mexico.

Telvent also will upgrade Pemex's data acquisition and control systems (SCADA) and supply advanced management applications for the management of oil and gas in the main operation centers of the Ku-Maloob-Zaap oil field.

The technology will enable real-time monitoring by Pemex of both the oilrig operation process and security.

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