LUKOIL Tuesday, November 23, 2021
<_a103a_updated style="display: none"> { 11/23/2021 5:06:27 PM }LUKOIL announces discovery of an oil field within the Yoti West structure at Block 12 offshore Mexico. The field was discovered after drilling the first 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 meters. An assessment plan for the Yoti West field is planned to be developed based on drilling results.
Two 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.
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LUKOIL announces a new oil finding in the Sayulita prospecting area of Block 10 offshore Mexico following the drilling of an exploratory well. The initial geological resources of the new accumulation may contain up to 200 Mboe in place. The Sayulita-1 EXP well is the second consecutive successful well drilled by the Company in partnership with the operator Eni as part of its Block 10 commitments.
LUKOIL is to acquire the 50% operator interest in the Area 4 project in Mexico, consisted of two oil fields, Ichalkil and Pokoch, which are located in the Gulf of Mexico. The construction of production facilities is currently being finalized, and production of first oil is scheduled for the third quarter of 2021. The partner in the Project is PetroBal.
LUKOIL and Eni signed Farm-Out Agreement on Blocks 10, 12 and 14 in the Mexico's shallow waters. The Agreement enables to expand LUKOIL's exploration portfolio in the region, diversify risks and build up exploration competencies.
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OAO Lukoil published this content on 23 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 November 2021 14:09:01 UTC.
