Petrofac says it has acquired the Arenque contract area from Mexican national oil firm Pemex.
The site, situated in the Gulf of Mexico, is currently producing around 5,000 barrels of oil per day at around 11% recovery stage.
Arenque is Petrofac’s fourth Mexican asset, but the first offshore project in the country.
Following the takeover of Pánuco operations together with Schlumberger in March this year, Petrofac becomes the second biggest oil producer in Mexico behind Pemex, producing approximately 1% of the country’s total production.
