Italy’s Eni won, with a 100% share a production sharing contract, to appraise, develop, and exploit the oil fields of Amoca, Miztón e Tecoalli, located in the Area 1 in the Campeche Bay, offshore Mexico, following an international auction held on 30 September in Mexico City.
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Image from Eni Twitter. |
The Amoca, Mitzon and Teocalli fields are located in shallow water, from 20-40m, and are close to shore, in an context in which Eni is endowed with a proved experience and operates worldwide with high efficiency and low operating costs. According to the official estimates by the local authorities which organized the bid round (Comisión Nacional de Hidrocarburos - CNH) the combined oil volumes in place for the three fields are approximately 800 MMbbl barrels of oil and 480 Bcf of associated gas.
Eni will now move on with the appraisal campaign of the fields with the target to identify a synergic and fast track development plan.
Of the five areas offered in the bid round, the Area 1 was the one with the highest level of competition. Area 1 award is subject to the approval of local authorities. Yesterday’s (30 September) auction was the second bid called by CNH under the “Ronda 1,‘ following the Energy Reform of 2014 which allows local and foreign companies to operate in Mexico.
Area 1 will be operated by the new company Eni Mexico.
Round One, phase two was deemed a success by Mexican officials, with three out of five areas awarded. In addition to Eni, the consortia of Pan American Energy with E&P Hidrocarburos y Servicios won Area 2, and the Fieldwood Energy and Petrobal consortia won Area 5. No bids were received for either Area 3 or Area 5.
Read more:
Mexico's Round One, phase two "a success"
Mexico’s Round One minimums released
Where does Mexico go from here?
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