Eni finds oil offshore Mexico

Eni finds oil offshore Mexico

Mar 27, 2017
2 min read
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Eni has announced that it has found oil offshore Mexico after successfully drilling the Amoca-2 well in the shallow waters of Campeche Bay.

The well is located in the Contractual Area 1,200 km west of Ciudad del Carmen, in the Campeche Bay, in 25 meters of water.

Eni said in a statement that the well reached a total depth of approximately 3,500 meters, encountering approximately 110 meters of net oil pay from several good quality Pliocene reservoir sandstones, of which 65 meters were discovered in a deeper, previously undrilled horizon. The well confirmed the presence of 18° API oil in the shallower formations.

Amoca-2 is the first well drilled by an IOC in Mexico since the 2013 Energy Reform

“This important discovery comes in a country where Eni has not yet operated and is another confirmation of the validity of our “Dual Exploration Model” approach. Focusing on conventional exploration with high initial stakes and operatorship, we manage to fast-track exploration activities, monetise exploration successes early and receive competitive development opportunities, therefore maximizing value generation for our shareholders,” Eni CEO Claudio Descalzi said.

The Area 1 drilling campaign will continue with a new well in the Amoca area (Amoca-3) followed by the Miztón-2 and Tecoalli-2 delineation wells, to be drilled in 2017 to appraise existing discoveries as well as targeting new undrilled pools.

Eni holds a 100 per cent stake in the Area 1 Production Sharing Agreement and is already evaluating options for a fast track phased development of the fields.