Danos and Petrofac to Form Alliance

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HOUMA, La. – 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 life cycle 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.”

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About Danos – Founded in 1947, Danos is a family-owned and managed oilfield service provider. A trusted industry partner, Danos offers the most responsive end-to-end integrated service solutions – safe, on time and on budget. Danos achieves world-class safety results and customer loyalty due to a values-based approach and an unyielding commitment to employee engagement and training. Learn more at Danos.com.

About Petrofac – Petrofac is a leading international service provider to the oil and gas production and processing industry, with a diverse client portfolio including many of the world’s leading integrated, independent and national oil and gas companies. Petrofac is quoted on the London Stock Exchange (symbol: PFC). Petrofac designs and builds oil and gas facilities; operates, maintains and manages facilities and trains personnel; enhances production; and, where it can leverage its service capability, develops and co-invests in upstream and infrastructure projects. Petrofac’s range of services meets its clients’ needs across the full life cycle of oil and gas assets. With around 13,500 employees, Petrofac operates out of seven strategically located operational centres, in Aberdeen, Sharjah, Abu Dhabi, Woking, Chennai, Mumbai and Kuala Lumpur and has a further 24 offices worldwide. For additional information, please refer to the Petrofac website at www.petrofac.com.

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