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Russian LUKOIL and Italian Eni made an oil find at block 10 offshore Mexico

The Block 10 Joint Venture includes LUKOIL (20% interest), Eni (operator, 65%) and Capricorn (a wholly owned subsidiary of Cairn Energy, 15%)

Russian LUKOIL and Italian Eni made an oil find at block 10 offshore Mexico

Mexico, August 2 - Neftegaz.RU.The companies announced an oil find in Upper Miocene sequences on the Sayulita Exploration Prospect in Block 10 in the mid-deep water of the Cuenca Salina Sureste Basin, Offshore Mexico.

According to preliminary estimates, the initial geological resources of the new accumulation may contain up to 200 Mboe in place.
The Sayulita-1 EXP well was drilled by the Valaris 8505 Semisub in a water depth of 325 m and reached a total depth of 1758 m subsea level.
It is located approximately 70 km off the coast and just 15 km away from the previous oil discovery of Saasken (2020) that will be appraised toward year-end.

The reservoirs show excellent petrophysical properties.
An intensive data collection has been carried out on the well and the data acquired indicate a production capacity for the well of up to approximately 3,000 barrels of oil per day.

LUKOIL considers Mexico a strategic region of its overseas operations.
In 2021, the company concluded an agreement to acquire the 50% operator interest in the Area 4 project, which includes 2 blocks with total area of 58 sq. km with the recoverable hydrocarbon reserves amounting to 564 million boe, more than 80% of which is crude oil.
The construction of production facilities is currently being finalized, and production of 1st oil is scheduled for the 3rd quarter of 2021.

Eni is present in Mexico since 2006.
Its a core country in the strategy of future organic growth of Eni, which is currently producing more than 20,000 boed from Area 1 on an early production configuration, and expects to ramp-up to 65,000 boed in 2022 and reach a plateau of 90,000 boed in 2025.

Source : Neftegaz.RU

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