Renaissance Oil Corp. announced that PJSC LUKOIL has chosen Renaissance as their partner for the Integrated Exploration and Production Contract for the 230 km (56,800 acres) Amatitlán block near Poza Rica, Veracruz, Mexico. Renaissance has entered into a definitive agreement with LUKOIL and Marak Capital S.A. whereby the company will acquire an indirect 25% interest from Marak in Petrolera de Amatitlán S.A.P.I., the contractor of the Integrated Exploration and Production Contract for the Amatitlán block for USD 1,750,000. Marak currently owns a 50% indirect interest in Petrolera, with the remaining 50% held by LUKOIL. The company and LUKOIL have agreed that Renaissance will take the lead role in operations for Petrolera for joint development of the Amatitlán block currently held by Pemex-Exploración y Producción. The Integrated Exploration and Production Contract is expected to migrate into a Contract of Exploration and Extraction in fourth quarter of 2017 with an improved fiscal regime, pursuant to the constitutional amendments of December 20, 2013 reforming the Mexican Energy Industry. Upon closing of the Transaction, and with the expected migration to a Contract of Exploration and Extraction (‘CEE’), the Amatitlán CEE will join the existing portfolio of four CEEs now held by Renaissance. Renaissance expects the closing of the Transaction to occur in late January 2017.