Save for later Print Download Share LinkedIn Twitter Russia's Lukoil said on Monday that it has started drilling the first exploration well at Block 12 offshore Mexico. Lukoil said the Yoti West-1 exploration well will be drilled by the Valaris 8505 semisubmersible rig, which was move to Block 12 after successful work at Block 10. Lukoil operates Block 12 and holds a 60% stake, while Italy's Eni holds a 20% stake. Block 10 is operated by Eni, which recently announced a discovery with in-place oil volumes of 150 million-300 million bbl (OD Aug.2'21). Lukoil holds a 20% stake in Block 10. Lukoil views Mexico as a strategic operating area. It recently acquired a 50% operated interest in offshore Area 4, which is scheduled to start production this year (IOD Jul.5'21).
