Petro-SPM Integrated Services is as a consortium, made up of Dowell Schlumberger de México, a subsidiary of oilfield services company Schlumberger and the local unit of Petrofac.
The transaction was recently closed. With the stake acquisition, Schlumberger will now own 100% of Petro-SPM.
Petrofac Integrated Energy Services chief operating officer Rob Jewkes said: “We are pleased to conclude this transaction, which is in line with our strategy and simplifies the ownership of the Pánuco field. We will continue to focus on the remaining production service contracts in our Mexican portfolio.”
Schlumberger New Ventures executive vice president Patrick Schorn said: “We consider Mexico’s Energy Reform as a significant step in the evolution of the country’s oil and gas industry, and we are optimistic in regard to the various business opportunities created under the new reforms.
“This transaction aligns with our well-established portfolio of production management projects and enables us to move forward with our plans to continue to develop the Pánuco field.”
In July, Schlumberger had agreed to acquire a majority of equity stake (51%) in Eurasia Drilling Company. The deal is subject to approval from the Federal Antimonopoly Service of Russia (FAS).
