MEXICO CITY, July 5 (Reuters) - Grupo Carso, the Mexican

holding company controlled by the family of Mexican mogul Carlos

Slim, said on Friday that it has signed an exploration and

extraction services contract with state oil firm Pemex for the

stalled Lakach natural gas project.

With the contract, Grupo Carso becomes Pemex's

partner to develop the project after its prior partner, U.S.

liquefied natural gas company New Fortress Energy ( NFE ),

pulled out last year.

Grupo Carso said in a statement that its investment as

"service provider" on the Lakach project will be over $1.2

billion, while Pemex will maintain ownership of the field and

its gas reserves.

In March, Reuters reported that Pemex and Slim were in talks

over control and development of the project in the Gulf of

Mexico.

Grupo Carso said in the statement it will build an onshore

station to "treat gas and condensates for disposal at sale

conditions," adding that commercial production will start in

about two and a half years.

The Lakach field has been hailed as a potential gateway to a

new deepwater Mexican gas frontier, and Pemex had for months

made finding a new partner for the project a priority.