"We believe Oriol gives us the best chance for us to win the Indianapolis 500 and compete for wins," Buhl added. "I'd like to personally thank Oriol, Chevy, our team partners and entire organisation for their commitment to our team."
For his part, Reinbold pointed out that the team was investing in getting new team personnel in place over the off-season.
"We're excited to see our ongoing increased investment in the technical and engineering areas of our team result in success within our off-season development program and on-track performance next year," he said.
Servia will be back in action with Panther DRR at next week's two-day test session at Sebring International Raceway scheduled for December 12-13, 2012.