Eni announces oil, gas discovery offshore Mexico

Italy’s Eni announced on July 8 a new oil and gas discovery at the Yopaat-1 EXP exploration well in Block 9 offshore Mexico.

This well is located approximately 63 km off the coast in the mid-deep waters of the Cuenca Salina in the Sureste basin. Preliminary estimates indicate a discovered potential of around 300-400mn barrels equivalent of oil and associated gas in place.

The well has been drilled in a water depth of 525 m and reached a total depth of 2,931 m, finding about 200 m of net pay hydrocarbon-bearing sands in the Pliocene and Miocene sequences, according to Eni.

The Block 9 joint venture consists of Eni as operator with a 50% participating interest, and the Spanish energy company Repsol holding 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 company stated. “The overall estimate of resources in place currently exceeds 1.3bn barrels of oil equivalent, which allows Eni to advance with studies towards a potential future 'hub' development. This includes the discoveries and other prospects present in the area, in synergy with nearby infrastructures.”

In Mexico, Eni holds rights in eight exploration and production blocks, seven of which it operates, all located in the Sureste basin in the Gulf of Mexico.