Lukoil assumes control of Mexican offshore field
Mexico The block containing the Ichalkil and Pokoch shallow-water fields will remain operated by North American upstream player Fieldwood Energy.
The two fields hold estimated recoverable reserves of 564 million boe, with 80% reported to be crude oil.
The Area 4 project is being carried out under a 25-year PSA signed in 2016.
Fieldwood Energy is an E&P company focused on the Gulf of Mexico, where it has been developing Area 4 ahead of the completion of a buyout of its shares by Lukoil in July 2021.
Lukoil bought a 50% stake in the development for USD 435 million in July 2021.
Recent Posts
Presight AI takes 49% stake in ADNOC energy AI player
Presight has acquired a 51% shareholding in AIQ, an energy-focused AI player founded by ADNOC and G42, the companies announced… Read More
Wood wins TotalEnergies North Sea flare recovery work
UK engineering contractor Wood has been awarded a decarbonisation project by TotalEnergies to support flare gas recovery in the North… Read More
Shelf Drilling wins $54-million North Sea contract
Oslo-listed Shelf Drilling has secured a contract for the Shelf Drilling Fortress jack-up rig with an undisclosed North Sea operator… Read More
In new agrivoltaics vision, Australia solar farm integrates sheep
A 720-MW Australian solar farm is pioneering a model of agrivoltaics with livestock integration by playing host to more than… Read More
Sapura wins underwater services contract in Malaysia
Malaysia’s Sapura Energy has been awarded a five-year contract from Thailand’s PTTEP to conduct Pan Malaysia subsea services for Petronas… Read More