LatAmOil: Eni discovers significant oil and gas reserves off the coast of Mexico

Italian energy conglomerate Eni has announced a notable oil and gas discovery in the Sureste Basin, approximately 63 kilometres off the coast of Mexico. This discovery, made in an exploration well designated as Block 9, is preliminarily estimated to contain between 300-400mn barrels of oil equivalent (boe) of oil and associated gas. Eni and Spain’s Repsol each hold a 50% stake in the Block 9 joint venture.

This find is part of a series of discoveries by Eni in its various operated blocks within the Gulf of Mexico. The overall resource estimate in these areas now exceeds 1.3bn boe. Eni plans to advance studies towards the development of a potential future hub in the region.

Yopaat-1 is one of several wells Eni Mexico is evaluating for cluster development, alongside two wells from the adjacent Area 10, Saasken and Saasil, where oil has also been discovered. The Saasil well received drilling approval in late January, and Saasken is currently under appraisal. Combined, the resources in these areas surpass 1.3bn boe.