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LUKOIL Makes Mexico Oil Discovery

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Russia’s LUKOIL said it has made an offshore oil discovery in Block 12 of Mexico’s Sureste basin.

LUKOIL said the Yoti West exploration well had discovered oil with a preliminary resource estimate of 250 million barrels of initial oil in place.

The Yoti West-1 EXP well was drilled 60 kilometers offshore using the semi-submersible drilling rig Valaris 8505.

The well hit a sand reservoir in Upper Miocene sediments with high permeability and effective oil-saturated thickness of about 25 meters.

LUKOIL is analyzing the drilling results and making an assessment plan for the next step.

LUKOIL said it obtained rights to the 521 square-kilometer Block 12 in 2017. Lukoil has a 60 percent operator interest and partner Eni has 40 percent.

The Russian company said it also has a 20 percent interest in offshore Block 10 where two successful exploration wells have been drilled by the operator Eni.

“The resource base of the Block (10) is currently being assessed based on drilling results,” said LUKOIL.

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