Oil and Gas

Petrofac Completes Migration of Santuario Contract in Mexico


Petrofac completed the migration of the Santuario Production Enhancemen­t Contract (PEC) into an interest in a Production Sharing Contract (PSC)2. Effective from 18 December 2017, Petrofac will own a 36% equity interest in the PSC, with PEMEX Exploratio­n & Production Mexico (PEMEX) having a 64% interest. The PSC will run for 25 years, with two optional five-year extensions. Petrofac will be Operator of the block and will carry PEMEX’s share of cash calls for the first year.

Rob Jewkes, Chief Operating Officer, Integrated Energy Services, commented: “We are pleased to have successful­ly concluded the migration of the first of our Production Enhancemen­t Contracts. We are committed to unlocking value in the block through a new field developmen­t plan in conjunctio­n with our partner PEMEX.”

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