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LUKOIL in the United Mexican States

PJSC LUKOIL began its operations in Mexico in July 2015, when the Company became a part of the Amatitlan block development project. Before that, in January 2014, LUKOIL signed a cooperation agreement with the Mexican company Pemex, which laid the groundwork for the two companies’ collaboration in the field of oil exploration and production.

The Amatitlan block is located in Veracruz state, Mexico. LUKOIL joined the project in July 2015. The project is implemented in accordance with the service contract for hydrocarbon production. The produced hydrocarbons are the property of PEMEX. The oil produced here is shipped by motor trucks to the Soledad gathering system (30 km away from the Amatitlan block). Operator’s hydrocarbon production services are provided on a cost reimbursement basis. At the same time, interpretation of 3D seismic survey findings, well logging data, and assessment of the resource base helped determine the location of three appraisal wells. Tests are scheduled for 2017.