Eni: signs deal with Lukoil for stake in Mexico project
(CercleFinance.com) - Italian oil group Eni has signed an agreement with Russia's second largest oil producer Lukoil for the transfer of stakes in three exploration licenses in Mexico's shallow waters.
Under the terms of the deal, Eni will give Lukoil a 20% stake in both Area 10 and Area 14, and will acquire a 40% stake in Lukoil's Area 12.
Eni will retain a 80% stake in Area 10 and 60% of Area 14, and its stake in Area will now reach 40%.
The deal aims to diversify exploration risks, the companies said.
The three blocks were awarded to Eni and Lukoil in 2017 as a result of an international bid. Drilling is planned to start in mid-2019.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
Under the terms of the deal, Eni will give Lukoil a 20% stake in both Area 10 and Area 14, and will acquire a 40% stake in Lukoil's Area 12.
Eni will retain a 80% stake in Area 10 and 60% of Area 14, and its stake in Area will now reach 40%.
The deal aims to diversify exploration risks, the companies said.
The three blocks were awarded to Eni and Lukoil in 2017 as a result of an international bid. Drilling is planned to start in mid-2019.
Copyright (c) 2018 CercleFinance.com. All rights reserved.