Carbures extends its contract with PEMEX for seven monnths and 3.5 million euros

• The civil engineering division of the Spanish technology extends the two-year contract signed in 2015 with the Mexican oil company PEMEX for seven months. The extension of this agreement, signed this month and ending in December 2018, involves an additional billing of 3.5 million euros for a total of 10 million.

• Pemex reinforces its collaboration with Carbures, which increases the engineering work for the Exploration and Production Division within the field of transport and oil extraction in the platforms that the Mexican giant operates in the North and South regions of Mexico.

Madrid, June 26, 2018. Carbures reinforces its relationship with Pemex, the Mexican oil giant. The Spanish technology specialist in the design, engineering and manufacture of structures in composite materials has extended in seven months the two-year contract signed in 2015 with Petróleos Mexicanos, Pemex, for the development of platforms and other oil infrastructure. This extension of the contract, whose completion has now been set in December this year, represents an additional billing of 83 million pesos (3.5 million euros) for the technology throughout 2018. Carbures channels this extension of the contract with Pemex through its Mexican subsidiary, PYPSA, and the engineering tasks are limited to the terrestrial and marine oil assets that the Mexican oil company has in the North and South regions of Mexico.

The contract is extended from the month of June and has a duration of seven months and an aggregate total amount of 250 million pesos (10 million euros). The relevance of the extension of this contract is that Carbures CW consolidates itself as one of PEMEX's benchmarks in the provision of complex engineering services. In addition, in the field of engineering and construction of civil structures made of composite material, Carbures developed for Acciona Infraestructuras pillars of berthing for large cruises in composite materials. It was a pioneer model of maritime work in the world, whose potential for composite materials is enormous and which already operate at full capacity in Puerto del Rosario, Fuerteventura.

"The extension of this contract is a clear reflection of the trust and good work we have been doing since Pemex decided to start working with Carbures", explains the President of Carbures, Rafael Contreras.

PYPSA, a subsidiary of Carbures in Mexico, is a Mexican engineering company with years of experience in the execution of this type of services. The services covered by the contract consist of infrastructure project engineering, research, studies, opinions and / or technical analysis and technical-economic feasibility studies.

"Three years ago we signed our first contract with Pemex and we started a path that, we were fully convinced that it would allow us to enter a very important strategic country for our business such as Mexico. Today we can say that it is a country in which we continue to grow and it gives us the opportunity to enter new markets and to diversify our lines of activity in that region, in which we have a great interest also in the aeronautical and automotive sector, such as strategic geographic area for it ", adds Contreras.

The CEO of Carbures, Borja Martínez-Laredo affirms that "In the latest results, Civil Works was consolidated as the division that grew the most in terms of turnover and that has already shown a positive Ebitda. By 2018, we hope that growth will not only consolidate but will continue to increase. "