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.
LUKOIL joined the project in July 2015. The project is implemented in accordance with the service contract for hydrocarbon production.
Blocks 10, 12, 28
LUKOIL entered the project in September 2017 after winning a tender and signing a PSA with The National Hydrocarbons Commission of Mexico (CNH).
In March 2018, LUKOIL in a consortium with the Italian company Eni has been awarded the contract right to the Block 28. The underwriting share of LUKOIL is 25%. Eni is the Operator of the license with a 75% stake in the joint venture. The Block is located in the Gulf of Mexico offshore with water depths between 20 and 500 m.
In November 2018, LUKOIL and 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. In its turn, Eni assigns 20% in Block 10 and 20% in Block 14 to LUKOIL, and remains the operator of both the projects. Later on LUKOIL did not participate in Block 14 having decided to focus on other projects in the region.
Exploration well was drilled at Block 10, resulting in Saasken oil field discovery.
Drilling of first exploration well at Block 10, resulting in an oil field discovery.
LUKOIL and Eni signed Farm-Out Agreement.
LUKOIL enters Block 28. The underwriting share of LUKOIL will be 25%. Eni will be the Operator of the license with a 75% stake in the joint venture.
LUKOIL enters Block 12 located in the southern part of the Gulf of Mexico.
LUKOIL became part of the Amatitlan block development project in Veracruz state, Mexico.
LUKOIL signed a cooperation agreement for oil exploration and production with the Mexican company Pemex.