London, June 20, 2012—Following the announcement by Petróleos Mexicanos (‘PEMEX’) on June 19th, Petrofac and partner Schlumberger confirm being the selected bidders on the Pánuco integrated production services contract in Mexico. The contract, which runs for 30 years, is expected to be signed in late August 2012 and field operations are expected to start around the beginning of 2013.
The Pánuco Contract Area contains four mature onshore fields operated by PEMEX, and was discovered in the early 1900s with an original oil in place of approximately 6.8 billion barrels. The fields have about 1,600 wells of which around 200 are currently producing a total of approximately 1,500 barrels of oil per day. Petrofac and Schlumberger will develop the fields jointly with Petrofac as the lead operator.
Schlumberger and Petrofac have complementary skill sets and execution capabilities built through subsurface knowledge, facilities expertise and operational experience in integrated asset management. On January 5, 2012, Petrofac Integrated Energy Services and Schlumberger Production Management announced the signing of a Co-operation Agreement to establish a working relationship to deliver integrated projects in the emerging and growing production services and production enhancement markets.
Schlumberger is the world's leading supplier of technology, integrated project management and information solutions to customers working in the oil and gas industry worldwide. Employing approximately 113,000 people representing over 140 nationalities and working in approximately 85 countries, Schlumberger provides the industry's widest range of products and services from exploration through production.
Schlumberger Limited has principal offices in Paris, Houston and The Hague and reported revenues of $39.54 billion in 2011. For additional information, visit www.slb.com.
Petrofac is a leading international services provider to the oil & gas production and processing industry, with a diverse customer portfolio including many of the world’s leading integrated, independent and national oil & gas companies. Petrofac is quoted on the London Stock Exchange (symbol: PFC) and is a constituent of the FTSE 100 Index.
The group delivers services through two divisions: Engineering, Construction, Operations & Maintenance (ECOM - comprising Onshore Engineering & Construction, Offshore Projects & Operations and Engineering & Consulting Services) and Integrated Energy Services (IES). Through these divisions Petrofac designs and builds oil & gas facilities; operates, maintains and manages facilities and trains personnel; enhances production; and, where it can leverage its service capability, develops and co-invests in upstream and infrastructure projects. Petrofac’s range of services meets its customers’ needs across the full life cycle of oil & gas assets.
With more than 15,000 employees, Petrofac operates out of six strategically located operational centres, in Aberdeen, Sharjah, Woking, Chennai, Mumbai and Abu Dhabi and a further 21 offices worldwide. The predominant focus of Petrofac’s business is on the UK Continental Shelf (UKCS), the Middle East and Africa, the Commonwealth of Independent States (CIS) and the Asia Pacific region.
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