Petrofac: Sells stake in Mexican oil field




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.

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