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Lukoil won the award for the heavy-oil block 12 in Mexico

Russia's Lukoil made the winning bid for the Area 12.

Lukoil won the award for the heavy-oil block 12 in Mexico

Lukoil made the winning bid for the Area 12, Mexico's National Hydrocarbon's Commission reported on June 19, 2017.

Mexico signed on Monday 10 contracts allocating tracts within which to explore and extract hydrocarbons in shallow waters of the Gulf of Mexico after the 1st phase of bidding in Round 2 of oil auctions.

Participating in the ceremony to present the proposals, held in Mexico City, were 20 firms, 5 of which were on hand as individual entities and 15 of which were bonded together in consortia.

Pemex Exploracion y Produccion, the state-run oil company, won 2 of the contracts in consortia with international firms.

ENI Mexico and Russia’s Lukoil International Upstream Holding – which obtained Block 12 – became the only firms to receive exploitation rights outside of a consortium.

Russia’s Lukoil won the tender for this 201-square-mile block.

This heavy-oil block is located in the oil province of Cuencas del Sureste, holds up to 958 million barrels of oil and assumed to hold the most resources.

Lukoil has previously participated in similar tenders in Mexico, but without any success.

To read the full story in Russian.

Source : Neftegaz.RU

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