A joint venture (JV) led by Malaysia’s Coastal Contracts Bhd has secured a roughly $1.06 billion contract from Mexican state oil company Petróleos Mexicanos (Pemex) to build and operate a natural gas conditioning plant at the Ixachi onshore gas and condensate field in Veracruz state.

The plant will have capacity to treat 300 MMcf/d of sour wet gas at Ixachi, Pemex’s flagship natural gas development. The contract period is 3,902 days, including a construction phase of 250 days and the operations and maintenance period of 10 years, Coastal said.

The JV, Coastoil Dynamic SA de CV, is a partnership between Coastal and Mexico’s Grupo Nuvoil. 

Coastal is an integrated marine oil and gas services and solutions provider listed on the Malaysian stock exchange, while Nuvoil is...