Thursday, December 02, 2021

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Russian oil company starts new oil drilling in Mexico

Russian oil company starts new oil drilling in Mexico

Moscow, Aug 16 (Prensa Latina) Russian oil company Lukoil on Monday announced that it has started drilling the first exploration well at Block 12, in Mexico, at a depth of 207 meters.
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‘After drilling, the geological and geophysical data will be analyzed to make a decision on further exploration at Block 12,’ the company stated in a press release.

Earlier, Lukoil and Italian company ENI found light crude oil at Block 10, at a well located about 65 kilometers off the coast of the states of Veracruz and Tabasco, in the Gulf of Mexico, a sea area the country shares with the United States and Cuba.

On August 2, the company informed about the discovery of new oil reserves in the Sayulita well of the Mexican platform, estimated at 200 million barrels of crude oil.

The discovery was considered the second ‘successful’ exploration of the cooperation between the Russian company and Italian company ENI in Mexico.

In July 2021, the company signed an agreement to acquire a 50 percent Block 4 of Mexico, which includes two areas covering 58 square kilometers, and some recoverable hydrocarbon reserves amounting to 564 million barrels of oil.

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