Italian explorer Eni has announced it will begin an exploratory drilling campaign at its three fields in the Bay of Campeche offshore Mexico.
Eni representatives were in Mexico City on 30 November to sign a new production sharing contract with Mexico’s Comisión Nacional de Hidrocarburos of Mexico (CNH) for the development and exploitation of the Amoca, Miztón and Tecoalli oil fields.
CNH’s official estimates say that the fields have combined oil volumes in place of approximately 800 MMbo and 480 Bcf of associated gas. The Italian company says it will proceed with a delineation campaign by drilling four new wells, targeting a synergic and fast track development plan.
The fields were awarded during Mexico’s phase two of Round One, held on 30 September. Eni was the highest bidder on Block 1, containing the three fields, with a bid that contained 83% profit share to the state, and a 33% increase in investment. Lukoil’s bid for the block came in second.
Block 1 is in the southeast basin, covering 67sq km in water depths ranging from 20-40m. At the time of the round, CNH said the fields contain 2P reserves of 107 MMbbl of light oil, and 69 Bcf of natural gas.
Eni's contract is the first to be signed from the 30 September round. Mexico's Energy Secretary Pedro Joaquin Coldwell said during the official signing on 30 November that Eni will be the first large-scale oil company to invest in Mexico.
The bid round on 30 September produced three winning bids for the five blocks offered. A consortia consisting of Pan American Energy and E&P Hidrocarburos y Servicios won Block 2, while a consortia of Fieldwood Energy and Petrobal won Block 4.
CNH also said during the signing that contracts for Blocks 2 and 4 have not yet been signed and must be signed no later than 7 January 2016.
Image: Pedro Joaquin Coldwell, courtesy of SENER.
Read more
Subscribe
