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LUKOIL discovered 250 million barrel field in Block 12 on the Mexican shelf

Russian oil major began its operations in Mexico in July 2015, when LUKOIL became a part of the Amatitlan block development project

LUKOIL discovered 250 million barrel field in Block 12 on the Mexican shelf

Source: Lukoil Press Office

Moscow, November 24 - Neftegaz.RU. 4 years ago, LUKOIL Upstream Mexico obtained the right for exploration & production of hydrocarbons at Block 12 in the Gulf of Mexico.
The Block has an area of 521 sq.km.

On November 23, ​LUKOIL announced discovery of an oil field within the Yoti West structure at Block 12 offshore Mexico.
The field was discovered after drilling the 1st exploration well.
According to preliminary estimates, the initial oil in place reaches 250 million barrels.

The Yoti West-1 EXP well was drilled 60 km offshore from the Valaris 8505 semi-submersible platform.
The well penetrated a sand reservoir in Upper Miocene sediments with high permeability and effective oil-saturated thickness of about 25 m.
An assessment plan for the Yoti West field is planned to be developed based ​on drilling results.

LUKOIL considers Mexico a strategic region for the development of its international upstream operations.
In November 2018, LUKOIL and Italian Eni signed Farm-Out Agreement on the blocks 10, 12 and 14 in the Mexico's shallow waters.
According to the Agreement, LUKOIL assigns 40% in Block 12 to Eni, retains the remaining 60% stake and remains the operator of the project.

2 successful exploration wells were previously drilled at Block 10 offshore Mexico where LUKOIL owns 20% and Eni is the operator.
The resource base of the Block is currently being assessed based on drilling results.

Author: Elena Alifirova

Source : Neftegaz.RU


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