Lukoil intends to work as an operator in Mexico, not a service company

​Lukoil intends to work as an operator in Mexico, not a service company, RIA Novosti reports referring to a source in the Ministry of Finance of Mexico.

At the end of last week Lukoil’s head, V. Alekperov, met with the President of Mexico, E.P. Nieto and the head of the oil company Pemex, H. Anaya. Previously Mr. Alekperov showed the interest of the company in new projects in Mexico and Iran, but recently the company’s affiliate - Lukoil International Upstream Holding B.V. – announced of its interest in the participation in the 4th tender of the 1st round of realization of rights for the development of oil blocks: 11 deep water blocks in the Gulf of Mexico.

Along with the other companies working in Mexico Lukoil hopes for a soon settlement of the issue of turning the service contracts into license agreements and hopes that the Ministries of Mexico will accelerate this process. Previously the representatives of  various agencies said that this turn might start not earlier than in 2017 as such deals are not beneficial to Mexico in the conditions of low oil prices.

Lukoil has a service contract for the extraction and geological exploration of the Amatitlan block at the Chikontepek deposit.