03 April 2013
Petrofac and Schlumberger take over the Pánuco operations
On 27 March, PetroSPM - the joint venture bringing together Petrofac and Schlumberger - formally took over operatorship of the Pánuco Contract Area from Pemex, the Mexican National Oil Company.
Pánuco is the oldest field in Mexico, having been discovered in 1904, with estimated 6.8 billion of oil initially in place. Petrofac and Schlumberger will operate the field under the joint venture PetroSPM, with Petrofac as the lead Operator.
Pánuco is the third contract area operated by Petrofac in Mexico; having taken over the operations of Magallanes and Santuario in February 2012. Work is underway to take over Arenque, an offshore field awarded to Petrofac most recently.
Peter Leach, Senior VP Americas, commented: “I offer my thanks and congratulations to the combined Pánuco asset team and also to the Petrofac Mexico organisation, which has brought us this far. I look forward to travelling with them on what will undoubtedly be a fascinating and challenging journey.”