Originally commissioned in the early 1960s, the Magallanes and Santuario oil fields had been largely ignored in favour of other, better producing fields, and only one in ten of the drilled wells remained productive.
Since taking responsibility for the production enhancement contracts, we have boosted output by 45% from operation takeover, and the known resource base is up by more than 10% - which means that PEMEX has seen a significant increase in both the scale and the efficiency of its assets.
The Arenque field, which at the time of the contract award was producing around 5,500 barrels per day, has initial oil in place of approximately 1.2 billion barrels with a current recovery factor of around 11%.
Petrofac plans to improve the recovery factor and increase production from the core area of the field using horizontal wells and secondary recovery techniques. In addition, there is considerable upside potential in the rest of the block.