Monday, March 27, 2023

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ENI announces important new energy discoveries in Mexico

Italy's oil and gas major Eni SpA said on Friday it had discovered oil in the Sureste Basin, off Mexico, with a prospect that it could hold about 200 million barrels of oil in place.

The discovery was made in the Yatzil exploration in Block 7, which is located in the medium-deep waters of the Cuenca Salina in the Sureste Basin.
This is not the first discovery of the Italian energy major in the basin. Three years ago, Eni announced a discovery in the Sureste basin, stating that it could contain between 200 and 300 million barrels of crude oil. The discovery was made in Block 10, of which Eni is the operator and holds the majority stake. That's where the exploration area is

And here is block 10, due to ENI

In Block 7, joint venture partners include Eni, which is the operator with a 45% stake, Capricorn with 30%, and Citla Energy with a 25% stake.

Today Eni declared that Yatzil-1 is the second engagement well of Block 7 and the eighth successfully drilled by Eni in the Sureste Basin. The new oil discovery is about 65 kilometers off the coast and 25-30 kilometers away from other discoveries.

“The positive result comes after the Saasken and Sayulita discoveries in Block 10 and confirms the value of Eni's Mexican asset portfolio, contributing to the potential synergistic development of several prospects located nearby,” Eni said in a statement on Friday.
Eni considers Mexico a central country for its organic growth. Currently, the gradual development project of Area 1, led by a consortium of which Eni is a member, produces more than 30,000 barrels of oil equivalent per day (boepd). The entire project is expected to be completed by 2025, the Italian company said.

Eni, present in Mexico since 2006, holds rights to eight exploration and production blocks – six of which as operator – all located in the Sureste Basin in the Gulf of Mexico.

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The article ENI announces new important energy discoveries in Mexico comes from Scenari Economici .

This is a machine translation of a post published on Scenari Economici at the URL on Sat, 18 Mar 2023 09:00:00 +0000.