Lukoil to get 25% in Mexican joint project with Italy’s Eni

MOSCOW, Mar 28 (PRIME) -- Russian oil major Lukoil will get a 25% stake in an oil field in the waters of the Cuenca Salina Basin, offshore Mexico, where Eni will receive 75%, the Italian company said in a statement on Wednesday.

“Eni will be the operator of the license with a 75% stake in the joint venture, while Lukoil has the remaining 25%. This new award comes as the outcome of the first international competitive bid round called under Ronda 3 by the National Hydrocarbons Commission … which offered blocks located in water depths between 20 and 500 meters. The contract award is subject to approval from the authorities,” the statement said.

On Tuesday, a consortium of Lukoil and Eni won a tender for Block 28 hydrocarbon shelf site with a U.S. $59.8 million bid.

The companies are to drill two wells, and Eni is to decide whether to expand the project.

Lukoil also filed bids for three other blocks, but won none of them.

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