Russian Lukoil has made oil discovery offshore Mexico

The multinational energy corporation Lukoil has announced a discovery of an oil field within the Yoti West structure at Block 12 offshore Mexico. The field was discovered after drilling the first exploration well. According to preliminary estimates, the initial oil in place reaches 250 million barrels, Lukoil said. A spokesman of Lukoil has stated that “The well penetrated a sand reservoir in Upper Miocene sediments with high permeability and effective oil-saturated thickness of about 25 meters. An assessment plan for the Yoti West field is planned to be developed based on drilling results.”. In 2017, Lukoil obtained the right for exploration and production of hydrocarbons at Block 12 in the Gulf of Mexico. The Block measures approximately 521 sqm. The partners are Italy’s Eni with a 40% stake.