Petrofac and Danos today confirmed a new joint venture in the Gulf of Mexico.
The firms will pursue “joint opportunities to deliver services across the oil and gas asset life cycle, with a focus on supporting operations and asset management solutions in the Gulf of Mexico and US shale plays”.
The move was spurred on by the “lower longer” environment the oil and gas supply chain faces.
Senior vice president for Petrofac engineering and production services, Dave Blackburn, said: “The ‘lower for longer’ operating environment requires a different approach to be taken, and we see this as an ideal time for our two companies to come together in this alliance. As many companies are forced to consider how to reduce operating and lifting costs or improve efficiencies, the blend of our capabilities, from skilled, competent local people through to fully holistic asset-led solutions provides us with a clear platform from which we can respond.”
The partnership will target operations across “all phases of the asset life cycle including late life and decommissioning”, according to the firms.
Danos executive vice president, Paul Danos, added: “At Danos, part of our purpose is to ‘solve big challenges for our customers’. We see a clear need for new and creative solutions to solve the developing challenges brought on by the current market realities. I am excited about the strong capabilities that this alliance creates to offer relevant solutions to our customers.”
Founded in 1947, Danos is a family-owned and managed oilfield service provider. Petrofac employs 13,500 people, operating out of seven strategically located operational centres, in Aberdeen, Sharjah, Abu Dhabi, Woking, Chennai, Mumbai and Kuala Lumpur and has a further 24 offices.
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