Skip to main content

Petrofac completes migration of Santuario contract in Mexico

Published by
Oilfield Technology,

Petrofac has announced that it has completed the migration of the Santuario Production Enhancement Contract (PEC) into an interest in a Production Sharing Contract (PSC).

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.”

Read the article online at:

You might also like


Embed article link: (copy the HTML code below):


This article has been tagged under the following:

Upstream news Mexico upstream news Oil & gas news