Doing Business In Mexico

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News 12

UPDATE: Petrofac set for another contract win in Mexico

Oil services specialist Petrofac (LON:PFC) and partner Schlumberger are set to develop four onshore fields in Mexico.

The pair were declared the selected bidder for the Pánuco integrated production service contract where PEMEX is operating the fields.

The contract runs for 30 years and Petrofac will be the lead operator, it emerged.

The contract area was discovered in early 1900s with original oil in place of around 6.8bn barrels. The fields have around 1,600 wells of which around 200 are currently producing a total of 1,500 barrels of oil per day.

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