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News // Oil and gas worldwide

Petrofac signed a deal to sell 49 % of its operations in Mexico

01 August 2018 , 12:06Neftegaz.RU506

London, August 1 - Neftegaz.RU. Petrofac has agreed to sell a 49% stake in its Mexican operations to France-based oil & gas company Perenco for a price of $400 million.

 

The deal includes Petrofac’s Santuario, Magallanes and Arenque operations and is expected to go through in Q4 2018.

 

Petrofac CEO Ayman Asfari said: «We are delighted to welcome an experienced partner in Perenco to our Mexican operations. They bring strong technical capability that will complement our existing brownfield operations experience to strengthen our offering.»

 

Perenco’s CEO, Benoit de la Fouchardiere, said: «Partnering with Petrofac in Mexico will give us a fantastic opportunity to reach our goals in a timely manner and, by our results, demonstrate to the State company Pemex that we can also be a partner of choice for the future.

 

In late June, Petrofac had signed a deal to sell out its entire stake of 45% in the Chergui asset in Tunisia to Perenco for an undisclosed price. The sale is part of Petrofac’s strategy to transition back to a capital light business model by offloading its non-core assets.

 

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