Linus Unah – Fourth Estate Contributor
San Donato Milanese, Italy (4E) – Italian energy company Eni Thursday confirmed the presence of oil in multiple reservoirs offshore Mexico.
Eni said in a news release that it has successfully drilled the Amoca-2 well in the shallow waters of Campeche Bay, offshore Mexico.
“This important discovery comes in a country where Eni has not yet operated and confirms our exploration capabilities,” Eni CEO Claudio Descalzi said in a statement.
Amoca-2 is the first well to be drilled by a foreign oil company following Mexico’s energy reform in 2013.
The well has a depth of about 3,500 meters, and encoutered about 110 meters of net oil pay, according to the company.
“Focusing on conventional exploration with high initial stakes and operatorship, we manage to fast-track exploration activities, monetize exploration successes early and receive competitive development opportunities.”
Eni holds a 100 percent stake in the Area 1 Production Sharing Agreement.
The company noted that it was evaluating options to fast-track phased development of the fields in Mexico.
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