Eni Announces a New Discovery Offshore Mexico

Italian company finds 200 million BOE with its Block 7 exploration well.

Semisubmersible Valaris DPS5.
Semisubmersible Valaris DPS5.

Eni has made a new oil new discovery at the Yatzil prospect in Block 7, located in the mid-deep water of the Cuenca Salina in the Sureste Basin, offshore Mexico. According to preliminary estimates, the new finding may contain around 200 million bbl of oil in place.

Yatzil-1 EXP is the second commitment well of Block 7 and the eighth successful one drilled by Eni in the Sureste Basin. The well is located approximately 65 km off the coast, and 25–30 km away from other discoveries. The well was drilled by the Valaris DPS5 semisubmersible rig in a water depth of 284 m and reached a total depth of 2441 m. Yatzil-1 EXP found more than 40 m of net pay sands with good quality oil in the Upper Miocene sequences.

The successful result comes after the Saasken and Sayulita discoveries in Block 10 and contributes to the potential cluster development of several prospects located nearby.

The Block 7 Joint Venture comprises Eni, which is the operator with a 45% stake, Capricorn (30%), and Citla Energy (25%).

Mexico is a core country in Eni’s organic growth plan. The company is currently producing more than 30,000 BOE/D from the Area 1 phased development project, which is expected to be completed by 2025.

Eni has been present in Mexico since 2006 and holds rights in eight exploration and production blocks, all located in the Sureste Basin.