Lukoil Discovered Oil Field In Mexico With Reserves Of Up To 250Mln Barrels

Russian oil major Lukoil said on Tuesday it had discovered an oil field in Block 12 offshore Mexico with reserves of up to 250 million barrels of oil

MOSCOW (UrduPoint News / Sputnik - 23rd November, 2021) Russian oil major Lukoil said on Tuesday it had discovered an oil field in Block 12 offshore Mexico with reserves of up to 250 million barrels of oil.

"LUKOIL announces 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," the company said.

"The Yoti West-1 EXP well was drilled 60 km offshore from the Valaris 8505 semi-submersible platform. 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," it added.