Lukoil closes deal to enter Block 4 project on Mexico's shallow shelf, pays around $700 mln

MOSCOW. Feb 25 (Interfax) - PJSC Lukoil has closed a deal to acquire a 50% operator stake in the Block 4 project in Mexico by purchasing a holding that owns the operator company, Lukoil said in a statement.

Lukoil received approval for the agreement from the Mexican authorities on February 3. The deal totaled $435 million plus actual expenses of around $250 million incurred from January 1, 2021, to the closing date.