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The US and Mexico have agreed to work together to develop deep-water oil and gas fields that straddle their maritime border in the Gulf of Mexico.
The deal was signed at a meeting of the G20 group of industrial and developing countries in Los Cabos, Mexico.
US and Mexico agree Gulf of Mexico oil cooperation
Seeded on Tue Feb 21, 2012 8:00 AM EST
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It ends a moratorium on oil development near the maritime boundary in the western Gulf and sets up a legal framework for companies to develop cross-border fields jointly.
"These reservoirs could hold considerable reserves that could benefit the US and Mexico alike, but they don't necessarily stop at our maritime boundary. This could lead to disputes," Mrs Clinton said.
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