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Eni strikes oil off Mexico

Written by  Thursday, 23 March 2017 08:11

Eni has confirmed the presence of oil in multiple reservoirs at the Amoca-2 well, the first well drilled by an international oil major offshore Mexico since the 2013 Energy Reform.

Map of Area 1, from Eni. 

The Italian giant drilled the Amoca-2 well in the shallow waters of Campeche Bay, in Area 1, 200km west of Ciudad del Carmen, at 25m water depth. It marks the first well in a four-well campaign at Amoca. 

The well reached a total depth of approximately 3500m, encountering approximately 110m of net oil pay from several good quality Pliocene reservoir sandstones, of which 65m were discovered in a deeper, previously undrilled horizon, says Eni. The well confirmed the presence of 18° API oil in the shallower formations, while the newly discovered deeper sandstones contain high quality light oil.

Eni continues to assess the reserves; however, the company says that the well indicates a meaningful upside to the original estimates.

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

Area 1 or Block 1 was won by Eni in Mexico’s Round One, Phase 2 held in September 2015. The area in the Southeast basin. It is 67sq km and consists of the three fields: Amoca, Mizton and Tecoalli. The fields contain 2P reserves of 107 MMbbl of light oil, and 69 Bcf of natural gas at 33m water depth.   

Eni says it is already evaluating options for a fast-track phased development of the fields.

“This important discovery comes in a country where Eni has not yet operated and confirms our exploration capabilities, building upon our strong exploration track-record, 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, monetize exploration successes early and receive competitive development opportunities, therefore maximizing value generation for our shareholders,” Eni CEO Claudio Descalzi said. 

Eni announced its plans to explore Area 1 in December 2015. By October 2016, Mexico’s National Hydrocarbons Commission granted its approval for Eni to drill the Amoca-2 well, in which drilling began in December 2016.

Eni holds a 100% stake in the Area 1 production sharing agreement.

Read more:

Mexico's Round One, phase two "a success"

Eni gets Mexican approval for Amoca

Eni to drill off Mexico

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