Mexican oil company Pemex is set to make history, partnering up with a private company in deepwater exploration in Mexico.

In a statement on Friday, Pemex said it was searching for an experienced deepwater player, due to the depth, complexity of the Trion deepwater field in the Gulf of Mexico. Pemex is also looking forward to sharing the costs with the new partner. This would be first such cooperation for Pemex.

Bids for the participation in this project will be invited within the next couple of days, Pemex said.

The Trion field, located in the Perdido belt in the Mexican part of Gulf of Mexico, was discovered in 2012. Total P3 reserves are estimated at around 485 million barrels of oil equivalent.