Eni announces new discovery offshore Mexico

Eni announced a new discovery in the Yopaat-1 EXP exploration well, located in Block 9, approximately 63 kilometres off the coast in the mid-deep waters of the Cuenca Salina in the Sureste Basin, offshore Mexico.

Preliminary estimates suggest a discovered potential of around 300-400 million barrels of oil equivalent (Mboe) of oil and associated gas in place.

The Yopaat-1 EXP well was drilled to a water depth of 525 metres and reached a total depth of 2,931 metres. It encountered approximately 200 metres of net pay of hydrocarbon-bearing sands in the Pliocene and Miocene sequences. This discovery is supported by an extensive subsurface data acquisition campaign, which has provided detailed insights into the reservoir's potential.

Joint venture and strategic importance

The Block 9 joint venture comprises Eni, the operator with a 50% participating interest, and Repsol, which holds the remaining 50%. This successful result, in conjunction with the discoveries in Eni-operated Blocks 7 and 10, underscores the strategic value of Eni’s asset portfolio in the Sureste Basin.

The cumulative estimate of resources in place now exceeds 1.3 billion barrels of oil equivalent (Bboe). This substantial resource base paves the way for Eni to proceed with studies towards a potential future "Hub" development. This development will include the discoveries and other prospects in the area, leveraging existing nearby infrastructures.

Eni has had a presence in Mexico since 2006, establishing its wholly owned subsidiary, Eni Mexico S. de R. L. de C.V., in 2015. Currently, Eni is the leading foreign operator in the country, holding rights in eight exploration and production blocks in the Sureste Basin in the Gulf of Mexico, seven of which it operates.

This latest discovery further consolidates Eni’s leading position in Mexico’s energy sector and highlights the company’s commitment to expanding its resource base through strategic exploration and development.