ENI and its partner Qatar Petroleum have been awarded rights to Block 24 located in in the deep waters of Cuenca Salina Basin in Mexico, the Italian energy major has said in a press release.
ENI will be Operator of Block 24 with 65 percent in a joint venture with Qatar Petroleum, who holds 35 percent.
According to ENI, Block 24 is the outcome of the fourth international competitive bid round called under “Ronda 2” by the National Hydrocarbon Commission (CNH), and allows the Italian energy company to build up and consolidate a new core area with significant operational synergies in Mexico.
In Mexico, ENI already holds a 100 percent stake in Area 1 in the Cuenca Salina Basin, and it has already submitted the Development Plan to the approval of the local authorities. ENI also holds operators rights in other 3 exploration and production blocks in the same basin: Block 7 (ENI 45 percent), Block 10 (ENI 100 percent), Block 14 (ENI 60 percent). ENI is present in Mexico since 2006 and established its wholly owned subsidiary ENI Mexico S. de R.L. de C.V. in 2015.