In 2012, LUKOIL Overseas executed an agreement to acquire Vanco Exploration Company, a service company of Vanco Group, and the name is changed to LUKOIL Overseas Offshore Projects Inc., with its headquarters in Houston, Texas.
In October 2015, LUKOIL Overseas Offshore Projects Inc. changed its name to LUKOIL International Upstream West Inc. The change in name is to better reflect the nature of the business of the Houston office. The Houston office is involved in exploration and appraisal of both deep water and land operations.
LUKOIL Overseas acquires a second offshore block in the Republic of Sierra Leone with the acquisition of a 25% stake in Block SL-04B-10 on the shelf and continental slope of the Atlantic Ocean and adjacent to Block SL-05-11. LUKOIL Overseas signs an agreement to acquire Vanco Exploration Company, a service company of Vanco Group, and took over operatorship of Blocks CI-101, CI-401 in the Republic of Cote d’Ivoire and of Block CTPDW in the Republic of Ghana. LUKOIL Overseas, in a consortium of its joint venture partners in Block SL-04B-10 drilled a deepwater exploration well in the Republic of Sierra Leone.
LUKOIL Overseas commenced with its 2013-2014 deepwater drilling campaign in its West Africa Blocks. LUKOIL Overseas drilled an exploration well in deepwater Block SL-05-11 in the Republic of Sierra Leone. The well was drilled to a depth of 4741m from an open water surface location of in about 2000m water depth using a semi-submersible rig from Ocean Rig, named 'Eirik Raude'. Following the Sierra Leone drilling, LUKOIL Overseas moved the Ocean Rig “Eirik Raude” to the Republic of Cote d’Ivoire and drilled the first appraisal well for the “Independance” discovery in Block CI-401.
LUKOIL Overseas continued its deepwater drilling campaign with the drilling of an exploration well in its Block CI-101 in the Republic of Cote d’Ivoire. The well was drilled to a depth of in 2000 meters water depth. LUKOIL Overseas completed its exploration activities in its deepwater Block CTPDW in the Republic of Ghana with the drilling of its final exploration well. The Lynx-1X was drilled to a depth of 5300m from an open water surface location of about 1500m. Lynx-1X was drilled using a drill ship from Transocean, named 'GSF Jack Ryan'. LUKOIL Overseas entered the Republic of Cameroon with an agreement for the purchase of a 37.5% interest in the Etinde Block, located in the continental shelf of the Gulf of Guinea, adjacent to the border with Equatorial Guinea, 20 kilometers offshore of Cameroon with water depths between 10 to 75 meters. LUKOIL Overseas acquired a 38% interest in the deepwater Block Deepwater Tano / Cape Three Points (DT/CTP) located on the deepwater slope of the Republic of Ghana in the Gulf of Guinea and adjacent to LUKOIL's Block CTPDW and the border with the Republic of Cote d'Ivoire. HESS, Operator of the Block DT/CTP, with LUKOIL, drilled an appraisal well in the "Pecan" discovery and an appraisal well in the "Almond" discovery. LUKOIL Overseas entered the Republic of Nigeria with an agreement with Chevron for the purchase of a 18% interest in the OML-140 Block, located in the continental slope of the Gulf of Guinea. The interest includes a minority interest in the Bonga Southwest Aparo Field Unitization, with Shell as Operator of the Unitized Field. The block is located 135 km off the coast with the sea depth varies from 1.2 thousand meters to 2 thousand meters and covers more than 1.2 thousand km2.
LUKOIL Overseas completed its appraisal of the “Independence” discovery in its Block CI-401 of the Republic of Cote d’Ivoire with the drilling of the second appraisal well. The well Independance-3A was drilled to a depth of 4125m from an open water surface location of about 1700m using a semi‐submersible drilling rig from Ocean Rig, named 'Eirik Raude'. LUKOIL Overseas’ entry into the Etinde Block became effective in March 2015. LUKOIL Oversea’s entry into the OML-140 Block became effect October 2015.
LUKOIL Overseas enters the Socialist Republic of Vietnam with the acquisition of a 50% stake in the 1185 lm2 Block MVHN-02, on land and offshore in the Song Hong basin and Vietnam continental shelf in the South China Sea. LUKOIL Overseas opened an office in Hanoi, Vietnam. LUKOIL Overseas drilled 2 exploration wells in the shallow water of Block MVHN-02.
LUKOIL Overseas completed its exploration obligations in the Block MVHN-02 with the drilling of the exploration well B-11-1X on the coastal shoreline of the Block.
LUKOIL Overseas entered Romania with the successful participation in a As a result of a July 2010 tender for blocks in the Romania sector of the Black Sea. A, a consortium of LUKOIL Overseas and American oil company Vanco signed concession agreements with Romania's National Agency for Mineral Resources to explore and develop the EX-29 Est Rapsodia Block and the EX-30 Trident Block in the Romanian Sector of the Black Sea. LUKOIL Overseas opened an office in Bucharest, Romania.
LUKOIL Overseas conducted a 3D seismic survey on blocks Est Rhapsody and Trident in the Romanian sector of the Black Sea, marking the first time in corporate history group "LUKOIL" company LUKOIL Overseas proceeded to upstream activities in the territory of the Member States of the European Union.
LUKOIL Overseas conducted a three well deepwater drilling campaign in the Black Sea using a drill ship from Transocean Rig, named 'GSF Development Driller II'. One exploration well was drilled in Block EX-29 to a depth of 3,414 meter and two exploration wells were drilled in Block EX-30. The well Daria 1X was drilled to a depth of about 2780m from an open water depth of about 400m. The second well, Lira 1X, was drilled to a depth of about 2700m from an open water depth of about 700m, resulting in the "Lira" gas discovery.
LUKOIL Overseas entered Norway and got received a tolerance for work on the Norwegian shelf by the decision of the Ministry of petroleum and energy of Norway.
Opening Office LUKOIL Overseas in Oslo (Norway).
LUKOIL Overseas became a party to the two projects in the Norwegian sector of the Barents Sea (PL-PL and 708-719) based on the results of the 22nd licensing round, conducted by the Ministry of petroleum and energy of Norway.
LUKOIL Overseas, with its consortium members, acquired 3D seismic data on Block PL708 and on PL719.
Lundin Norway, Operator of Block PL708, with LUKOIL, drilled an exploration well.
LUKOIL acquired PL-858 in Norway.
PJSC LUKOIL was the first foreign company to enter into a partnership since the monopoly ended with an agreement with PEMEX to lay the foundation of collaboration in the field of exploration and oil production, and share environmental protection knowledge. LUKOIL agrees a deal with Mexico's state run oil company Pemex to explore and extract petroleum from Mexico. Lumex a holding company between LUKOIL and Marak Capital with development drilling and well workover commitments. LUKOIL International B.V. Representative Office in Mexico was established in 2014.
Lumex Holding B.V., a joint venture of PJSC LUKOIL's subsidiary LUKOIL Europe Holdings, B.V. and Marak Capital S.A. ("Marak") acquired Petrolera de Amatitlan S.A.P.I. from GPA Energy S.A. de C.V. (GPA Energy) in July 2015 to with a 50% interest each and entered into a service contract according to the terms of a Hydrocarbons Exploration and Production Services Agreement (CIEP) with Pemex-Exploración y Producción to develop the 230 km2 (56,800 acres) Amatitlán block located 68 km from the city of Poza Rica, Veracruz, Mexico.
Lumex Holding entered into a definitive agreement with Renaissance Oil Corporation for the joint development of the Amatitlán block. Renaissance will acquire an indirect 25% interest from Marak in LUMEX Holding B.V.. Marak currently owns a 50% indirect interest in this joint venture, with the remaining 50% held by PJSC LUKOIL's subsidiary. Additional option agreements are also in place and if executed that will comprise 62.5%/37.5% ownership of Lumex by Renaissance and LUKOIL.