As a result of the tender held on March 27 under the First stage of the Third Licensing Round in Mexico, LUKOIL in a consortium with the Italian company Eni has been awarded the contract right to the Block 28 located in the Gulf of Mexico offshore, in water depths between 20 and 500 m.
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 has been present in Mexico since 2014, when a cooperation agreement with the Mexican company Pemex was concluded. In 2015, the Company entered the Amatitlan block development project. In 2017, LUKOIL won the tender under the Second Licensing Round for Block 12, located in the shallow waters of the Gulf of Mexico.
About LUKOIL
PJSC “LUKOIL” is one of the largest publicly traded, vertically integrated oil and gas companies in the world in terms of proved hydrocarbon reserves and production; and the second largest producer of crude oil in Russia. Established in 1991, the Company currently operates in more than 30 countries with core upstream assets located in Russia. The full production cycle includes oil and gas exploration, production and refining; production of petrochemicals and lubricants; power generation; marketing and distribution providing LUKOIL with maximum synergies from its activities. The Company’s shares are listed in Russia on Moscow Exchange under the ticker “LKOH” and depositary receipts are listed on the London Stock Exchange under the ticker “LKOD”.
About ENI
Eni is an integrated energy company employing more than 34.000 people in 69 countries in the world. Eni engages in oil and natural gas exploration, field development and production, as well as in the supply, trading and shipping of natural gas, LNG, electricity and fuels. Through refineries and chemical plants, Eni processes crude oil and other oil-based feedstock to produce fuels, lubricants and chemical products that are supplied to wholesalers or through retail networks or distributors.