Gulf Oil and Gas accountACCOUNT

Petrofac Completes Migration of Santuario Contract in Mexico

Source: www.gulfoilandgas.com 12/19/2017, Location: South America

Share |
Petrofac announces that it has completed the migration of the Santuario Production Enhancement Contract (PEC)1 into an interest in a Production Sharing Contract (PSC).

Effective from 18 December 2017, Petrofac will own a 36% equity interest in the PSC, with PEMEX Exploration & Production Mexico (PEMEX) having a 64% interest. The PSC will run for 25 years, with two optional five-year extensions. Petrofac will be Operator of the block and will carry PEMEX’s share of cash calls for the first year.

Rob Jewkes, Chief Operating Officer, Integrated Energy Services, commented: “We are pleased to have successfully concluded the migration of the first of our Production Enhancement Contracts. We are committed to unlocking value in the block through a new field development plan in conjunction with our partner PEMEX.”

Engineering Procurement and Construction (EPC) News in Mexico >>

Guyana >>  4/26/2018 - Hess Corporation (HES) announced that its subsidiary, Hess Guyana (Block B) Exploration Limited, had reached agreement with Esso Exploration and Produ...
Argentina >>  4/24/2018 - Shell has signed an agreement to sell its Downstream business in Argentina to Raizen for US$0.95 billion in cash proceeds at completion, subject to cu...

Related Categories: Civil Works  Civil Works - Finishing works  Construction Contractors  Electrical Works  Engineering Procurement and Construction (EPC)  Engineering Procurement and Construction Management (EPCM)  General  Mechanical Works  Pipe Lines Installations  Steel Works 

Related Articles: Civil Works  Civil Works - Finishing works  Construction Contractors  Electrical Works  Engineering Procurement and Construction (EPC)  Engineering Procurement and Construction Management (EPCM)  General  Mechanical Works  Pipe Lines Installations  Steel Works 


Mexico Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 |

More News

 

Oil & Gas Companies in Mexico >>


Related Links

Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Privacy Policy.