The deal, which follows a preliminary agreement in December, will see Total assume stakes in two pre-salt oilfields and two thermoelectric power plants totaling 322MW of capacity.
Mexico's state oil company trimmed its net losses during 2016 and surpassed its production target for the first time in five years.
The contract signed earlier this month with Air Liquide will increase gasoline production and reduce refinery costs, according to Pemex's CEO.
In recent days, the South American nation announced it already had concluded talks to export urea to Argentina and Brazil.
Ruling overturns previous decision blocking sale of subsidiaries Petroquímica Suape and Citepe.