Mexico

In July 2015, LUKOIL entered into a project to develop the Amatitlán Block in Mexico.

Block 12

On 19 June 2017, LUKOIL Upstream Mexico S. De R.L. de C.V., was awarded Block 12 with state participation of 75% and a one well commitment.

Block 12 is in the southern part of the Gulf of Mexico, 50km from the coast (Port of Torno Largo). Water depth within the block changes from 150 to 400 meters averaging 200 meters. The area of the block is 521 square kilometers.

The Production Sharing Agreement was executed on 25 September 2017 with CNH and planning/preparations are underway for drilling of the first exploration well.

Amatitlan

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. Each entity acquired a 50% interest 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.

The project was implemented in accordance with the service contract for the production of hydrocarbons. Extracted hydrocarbons are owned by PEMEX and crude is shipped by truck to the Soledad collection system (30 km from Amatitlán Block). Operator services for the production of hydrocarbons are on a cost-recovery basis.

In January 2017, Lumex Holding entered into a definitive agreement with Renaissance Oil Corporation for the joint development of the Amatitlán block.

Renaissance acquired an indirect 25% interest from Marak in LUMEX Holding B.V. Additional option agreements are also in place and if executed that will comprise 62.5%/37.5% ownership of Lumex by Renaissance and LUKOIL.

Mexico

Block 12

Amatitlan

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