Petrofac Sells Stake in Mexican Oil Field
August 22 2017 - 3:25AM
Dow Jones News
By Tapan Panchal
LONDON--Petrofac Ltd. (PFC.LN) said Tuesday that it has sold its
50% stake in the Panuco oil field in Mexico to partner Schlumberger
for an undisclosed sum.
The oil and gas company has sold its interest in Petro-SPM
Integrated Services SA de CV, which operates the Panuco integrated
service contract. Schlumberger now owns 100% of the contract.
The U.K.-listed company said the sale consideration is in line
with the net book value of the interest and comprises cash on
completion and deferred consideration. The sale was completed on
Aug. 15.
Write to Tapan Panchal at tapan.panchal@wsj.com
(END) Dow Jones Newswires
August 22, 2017 03:10 ET (07:10 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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