LUKOIL has estimated investments in the oil block in Mexico

© RIA Novosti / Evgeny to Betemporary in fotobanka. Archival photoLUKOIL has estimated investments in the oil block in Mexico© RIA Novosti / Evgeny to Betemporary the image Bank

The volume of investments from outside «LUKOIL» in the development of the oil block to win a tender in Mexico, is estimated at not less than $ 50 million, reported RIA Novosti head of the representative office in Mexico LUKOIL International Pavel Suprunov.

A subsidiary of the Russian LUKOIL LUKOIL International Upstream Holding on Monday became the winner of the tender for oil block in the coastal waters of the Gulf of Mexico — one of the fifteen, put up for auction. LUKOIL has been offered a share of royalties in the amount of 75%. The site is located in the oil province within cuencas del-Sureste, its area is 521 square kilometer.

«While we are talking about one well, the project is geological in nature, and about the production while there is no question. We estimate investments of at least $ 50 million,» said Suprunov.

According to the head of mission, at the signing of the contract is 90 days. «From tomorrow (Tuesday) we will work with state authorities of Mexico on this issue,» said Suprunov. He noted that the exact date of start of work has not yet been determined, but it will be after 2017.

«We will continue to participate (in tenders), as Mexico has great potential. Already announced a number of tenders we analyze, but the decision has been made yet (about future competitions) we have,» said Suprunov.