Renaissance strikes Mexican shale with Lukoil partnership (E&P)

25 / ENE / 2017

Ricardo Martínez / E&P

Beyond Renaissance Oil Corp.’s dive into Mexico after snagging four onshore blocks in the third phase of Round One, the Vancouver, Canada-based company is gearing up to be the first foreign player to kickstart shale exploration following a US$1.75 million buy-in at Lukoil’s Amatitlán Block near Poza Rica in Veracruz state.

For the company’s CEO, Craig Steinke, partnering with the Russian giant represents a multibillion-dollar opportunity, which he enthusiastically revealed in a conference call announcement in early January. And Lukoil’s unconventional resources manager in Houston, Sergei Pokrovsky, said that the company’s pick of partners was based on Renaissance’s team expertise.

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