07 August 2013
Petrofac Mexico takes over operations of the Arenque contract area
On 1 July, Petrofac Mexico took over operations of the Arenque contract area from Pemex, the Mexican National Oil Company.
The Arenque contract area is situated in the Gulf of Mexico, 30 kilometres from the city of Tampico. The field, which is currently producing around 5,000 barrels per day, has initial oil in place of approximately 1.2 billion barrels with a current recovery factor of around 11%. Arenque became the fourth asset operated by Petrofac in Mexico and the first offshore for the Company in the country.
This follows Petrofac taking over operatorship of the Pánuco contract area in March with joint venture partner Schlumberger.
In less than two years since establishing presence, Petrofac has become the second biggest producer in Mexico, behind Pemex, producing approximately 1% of the country’s total production.