National oil company Petróleos Mexicanos has landed its first major investment since an overhaul opened the energy sector to private investors last year, with US-based BlackRock and First Reserve putting up about $900 million for a 45% stake in a pipeline project that will bring US natural gas to central Mexico, the companies said on Thursday.

The investment-and similar deals being pursued by Pemex-will help ease the effects of a planned $4 billion in budget cuts at the company this year because of lower oil prices, Pemex officials said.