Promethean Energy and DanosPetrofac have executed a Memorandum of Understanding (MoU) under which the organizations will pursue opportunities to develop oil and gas assets in the US Gulf of Mexico.
Promethean, a next generation Oil and Gas Development and Production (D&P) company, will acquire and operate the assets, while DanosPetrofac will deploy its capabilities and experience to support due diligence, ownership transition and manage operations.
Promethean CEO Aditya Singh said: “We are pleased to announce a strategic alliance with a company possessing the expertise and experience of DanosPetrofac which will help us to execute on our strategy to unlock value from existing oil & gas discoveries via integration of leading edge practices, data and technologies across the development & production life cycle in the deepwater Gulf of Mexico.”
DanosPetrofac steering committee chairman John Glithero said: “We look forward to supporting Promethean’s future acquisitions in the Gulf, where we work with asset owners to deploy services that improve performance and support effective and cost-efficient operations across all phases of the asset life cycle, including late life and decommissioning.”
Promethean is a D&P focused on producing fields with potential for development upside. Its strategic alliances and innovative partnerships allow Promethean to be agile and cost efficient while benefiting from working at the frontier with requisite scale in leading edge services and technologies.
DanosPetrofac brings together U.S.-based Danos’ integrated services with Petrofac’s international asset management experience, to provide unparalleled asset support and management for onshore and offshore facilities in the Gulf of Mexico.
Source: Company Press Release