LUKOIL today announced a new oil finding in the Sayulita prospecting area of Block 10 offshore Mexico following the drilling of an exploratory well. According to preliminary estimates, 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. It is located approximately 70 kilometers off the coast and just 15 km away from the previous oil discovery of Saasken (2020) that will be appraised toward year-end. The well was drilled by the Valaris 8505 Semisub in a water depth of 325 meters and reached a total depth of 1758 meters subsea level.

The well found 55 meters of oil net pay with excellent reservoir properties in the Upper Miocene sequences. Together with the operator, LUKOIL will immediately start defining the appraisal program of the discovery and identifying potential synergies for a commercial development.

Lukoil in Mexico

Amatitlan Block
The Amatitlan block occupies the area of 230 km² and is located 68 km away from the city of Poza Rica, Veracruz state, Mexico. LUKOIL joined the project in July 2015. Petrolera de Amatitlán SAPI de CV (PdA) acts as a project operator. The Company's share is 50 percent.

The project is implemented in accordance with the service contract for hydrocarbon production. The produced hydrocarbons are the property of PEMEX. The oil produced here is shipped by motor trucks to the Soledad gathering system (30 km away from the Amatitlan block). Operator's hydrocarbon production services are provided on a cost reimbursement basis.

Blocks 10, 12, 14, 28
In June 2017, LUKOIL won the tender under the Second Licensing Round for Block 12. The Production Sharing Agreement was executed in September 2017 with CNH.

Block 12 is in the southern part of the Gulf of Mexico, 50km from the coast (Port of Torno Largo). The area of the block is 521 square kilometers.

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 will be 25%. Eni will be the Operator of the license with a 75% stake in the joint venture. The Block is located in the Gulf of Mexico offshore, in water depths between 20 and 500 m.

In November 2018, LUKOIL and Eni signed Farm-Out Agreement on Blocks 10, 12 and 14 in the Mexico's shallow waters. According to the Agreement, LUKOIL assigned 40% in Block 12 to Eni, retains the remaining 60% stake and remains the operator of the project. In its turn, Eni assigned 20% in Block 10 and 20% in Block 14 to LUKOIL, and remains the operator of both projects.

Preparation and government approval of exploration programs continued in 2019. First exploration well was drilled at Block 10, resulting in an oil field discovery.

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