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Lukoil acquires Mexican oil project

 Last Update: 2021-08-06
 Source: Internet
 Author: User

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crude oil production

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Recently, Lukoil of Russia stated that the company has reached an agreement to acquire a 50% operating interest in a petroleum project in the fourth area of Mexico’s offshore area at a transaction price of US$435 million plus related expenses
.

PetroBal, a subsidiary of Mexico's GrupoBAL, owns the remaining 50% of the oil project in the fourth zone

Lukoil said that this project includes the Ichalkil and Pokoch oil fields, with a recoverable volume of 564 million barrels of oil equivalent, of which more than 80% is crude oil
.

The construction of the oilfield facilities of the project is about to be completed, and the first batch of oil will be produced in the third quarter of 2021 as planned

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