Repsol, together with Eni, makes a new oil discovery in a well in the Gulf of Mexico

Repsol, together with Eni, makes a new oil discovery in a well in the Gulf of Mexico
Repsol, together with Eni, makes a new oil discovery in a well in the Gulf of Mexico

Repsol and the Italian company Eni have made a new oil discovery in the ‘Yopaat 1’ well, located in deep waters of the Gulf of Mexico. According to the Italian company, preliminary estimates, after the successful drilling of block 9 of the well, operated 50% by Eni and the remaining 50% of which is held by the Spanish energy company, indicate a potential discovery of approximately 300 to 400 million barrels of oil and gas equivalent. Eni stressed that this positive result, together with the discoveries in two other blocks made by the company as operator, confirm the value of its portfolio in the Southeast Basin in Mexico. Last April, Eni received authorization from the Mexican regulator to proceed with the drilling of this exploratory well of ‘Yopaat 1’ in its blocks of area 9. This area is one of the areas with the greatest exploratory activity in the country. SUCCESSFUL EXPLORATION CAMPAIGN BY REPSOL IN THE COUNTRY. In Mexico, Repsol has carried out a successful exploration campaign that has produced three discoveries in four years. In 2020, the company made two important oil discoveries in deep waters of Mexico with its exploration wells ‘Polok-1’ and ‘Chinwol-1’ in Block 29 of the Salina Basin. Both wells confirmed high-quality reservoirs with excellent properties. In fact, Repsol gave up its rights to five other blocks to concentrate its efforts on this block 29. Thus, currently, the group led by Josu Jon Imaz is actively participating in the preparatory activities for the development of the ‘Polok’ and ‘Chinwol’ discoveries. For its part, Eni believes that the country’s global resource estimate currently exceeds 1.3 billion barrels of oil equivalent, which allows the transalpine company to advance with studies towards a possible future development of a ‘Hub’, including discoveries and other prospects present in the area, in synergy with the infrastructures located nearby. Eni has been present in Mexico since 2006, where it established its subsidiary Eni Mexico in 2021 and is the main foreign operator in the country. The company holds rights to eight exploration and production blocks, of which seven as an operator, in the Sureste Basin in the Gulf of Mexico.

 
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