As part of the move, the two firms have already made an investment in the Los Ramones pipelines project, which include 744km of natural gas pipelines, creating an essential energy connection for Mexico.
Work has started on the pipelines project, which are scheduled to enter service in mid-2016.
The firms will also invest in other large-scale essential infrastructure opportunities across the energy value chain, aimed to strengthen the energy profile of the country, reduce electricity prices and support Mexican industry.
First Reserve chairman and co-CEO William Macaulay said: "As global investors, First Reserve is excited to be expanding our existing portfolio in Mexico, where we have believed there to be attractive investment opportunities for some time.
"First Reserve looks forward to mutually exploring multiple investment opportunities throughout the country’s vast energy value chain on behalf of our investors and the country of Mexico."
Exclusively focused on energy industry, First Reserve’s operations span from upstream oil and gas to midstream and downstream, including resources, equipment and services and infrastructure.
Image: Pemex and First Reserve sign agreement to jointly invest $1bn in Mexican energy infrastructure. Photo: courtesy of supakitmod/Freedigitalphotos.net.
