Grupo Profesional Planeacion y Proyectos, or PYPSA, a unit of Spain's Carbures, said Tuesday it entered into a contract with Mexican state-owned oil giant Pemex to provide engineering services for the development of petroleum industry infrastructure.

The contract, worth 200 million pesos (nearly $12.2 million), is with Pemex Explotacion y Produccion and covers engineering services in offshore areas in northern and southern Mexico.

The 27-month contract takes effect this month.

"This is the step prior to building oil platforms with composite materials, which will replace the current metal ones that are much less resistant to corrosion caused by seawater," PYPSA said.

The Spanish company will provide consulting services, such as project engineering, research and analysis.

The services will be provided by PYPSA's offices in Mexico City and Poza Rica, a city in the Mexican Gulf state of Veracruz.

Carbures, which specializes in carbon-fiber manufacturing, acquired PYPSA in July.

PYPSA, which has been in operation for more than 20 years, provides services for industrial and civilian infrastructure projects. EFE

Source: Fox Latino - http://latino.foxnews.com/latino/news/2015/08/18/spain-carbures-to-provide-engineering-services-to-mexican-oil-giant-pemex/