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| Name | Symbol | Market | Type |
|---|---|---|---|
| PJSC Lukoil (CE) | USOTC:LUKOY | OTCMarkets | Depository Receipt |
| Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 6.96 | 0.00 | 01:00:00 |
From May 2021 to May 2024
By Jaime Llinares Taboada
Lukoil PJSC said Friday that it has completed the acquisition of a 50% stake in the Area 4 oil project offshore Mexico for $435 million plus expenditures of around $250 million.
The project includes two fields with recoverable hydrocarbon reserves of 564 million oil-equivalent barrels, more than 80% of which is crude oil, the Russian oil company said.
Production started in the fourth quarter of 2021 and the current rate exceeds 25,000 barrels a day. At its peak, Area 4 is expected to produce more than 115,000 barrels of oil equivalent a day.
PetroBal, a subsidiary of Mexican conglomerate GrupoBAL, owns the remaining 50% interest in the project.
Write to Jaime Llinares Taboada at jaime.llinares@wsj.com; @JaimeLlinaresT
(END) Dow Jones Newswires
February 25, 2022 02:56 ET (07:56 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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