Eni makes oil discovery in Block 10 offshore Mexico
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Eni makes oil discovery in Block 10 offshore Mexico

03 Aug 2021 (Last Updated August 3rd, 2021 11:56)

The discovery is estimated to hold resources between 150 and 200 million barrels of oil equivalent in place.

Italy’s Eni and its partners have made oil discovery on the Sayulita Exploration Prospect in Block 10 offshore Mexico, following the drilling of an exploratory well.

Drilled using the Valaris 8505 Semisub to a total depth of 1758m, the Sayulita-1 EXP well has encountered 55m of net pay of good quality oil in the Upper Miocene sequences.

The partners carried out intensive data collection on the well. The data indicated a production capacity of up to approximately 3,000 barrels of oil per day at the well, Eni said.

According to the preliminary estimates, the well has initial geological resources ranging between 150 and 200 million barrels of oil equivalent (Mboe) in place.

The second successful well in Block 10, the Sayulita-1 EXP well is located approximately 70km off the coast and 15km away from the Saasken discovery.

In a press statement, Eni said: “The successful result, that comes after the 2020 discovery well Saasken 1 EXP, confirm the value of the asset and open the potential commercial outcome of Block 10 since several other prospects located nearby may be clustered in a synergic development.”

Eni and its partners are now planning to define the discovery’s appraisal programme and identify potential synergies for the commercial development of the well.

The Sayulita-1 EXP well represents Eni’s seventh successful well drilled in the Cuenca Salina/Sureste Basin.

Eni operates the Block 10 Joint Venture with a 65% stake. Other partners in the block include Lukoil (20%) and Capricorn, a wholly owned subsidiary of Cairn Energy (15%).

Eni currently holds rights in eight exploration and production blocks in the Sureste Basin in the Gulf of Mexico.

Eni has discovered oil with its second commitment well in block 10 offshore Mexico.