Eni Announces New Discovery Offshore Mexico

Eni announced Monday a new discovery on the Yopaat-1 EXP exploration well in Block 9, approximately 63 kilometers off the coast in the mid-deep water of the Cuenca Salina in the Sureste Basin, offshore Mexico. The preliminary estimates indicate a discovered potential of around 300-400 million barrels equivalents (Mboe) of oil and associated gas in place.

The well has been drilled in a water depth of 525 meters and reached a total depth of 2,931 meters, finding about 200meter net pay of hydrocarbon bearing sands in the Pliocene and Miocene sequences, subject to an intense subsurface data acquisition campaign.

Block 9 Joint venture consists of Eni as Operator with a 50% participating interest and Repsol with the remaining 50%.

This successful result, alongside the discoveries in Eni-operated Blocks 7 and 10, confirms the value of Eni’s asset portfolio in the Sureste Basin. The overall estimate of resources in place currently exceeds 1.3 billion barrels of oil equivalent (Bboe) which allows Eni to advance with the studies towards a potential future “Hub” development, including the discoveries and other prospects present in the area, in synergy with the infrastructures located nearby.

Eni has been present in Mexico since 2006 and established its wholly owned subsidiary Eni Mexico S. de R. L. de C.V. in 2015. Currently, Eni is the main foreign operator in the country and holds rights in eight exploration and production blocks, of which seven as Operator, in the Sureste Basin in the Gulf of Mexico.