Lukoil company announced a new discovery of an oil field within the Yoti West structure at Block 12 offshore Mexico.

The company elaborated that the preliminary estimates indicate that the initial oil in place reaches 250 million barrels.

“The Yoti West-1 EXP well was drilled 60 km offshore from the Valaris 8505 semi-submersible platform,” said a press statement from the company. “The well penetrated a sand reservoir in Upper Miocene sediments with high permeability and effective oil-saturated thickness of about 25 meters.”

The Yoti West field was discovered after the first exploration well was drilled. It will be subject to an assessment plan to be developed based ​on drilling results.