Danos and Petrofac to Form Alliance
Danos and Petrofac, a London-based provider of oilfield services to the international oil and gas industry, have signed an agreement that will enable the formation of a Joint Venture (JV). The alliance will allow for the pursuit of 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 U.S. shale plays.
The two organizations are seeking to combine their collective strengths to provide a differentiated service offering to hydrocarbon resource holders. The increased service capabilities would be deployed to support effective and cost-efficient operations across all phases of the asset lifecycle including late life and decommissioning.
Danos brings a 70-year track record in Gulf of Mexico operations, with 11 integrated service lines including maintenance labor services and onshore fabrication. Petrofac, through its Engineering and Production Services business, contributes its 36 years of experience in asset management solutions to lower OPEX, lifting costs and improve efficiency.
Danos Owner and Executive Vice President Paul Danos said, “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.” 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.”