Italian oil and gas exploration firm Eni has made a new oil discovery in the Saasken exploration prospect in offshore Mexico.
It made the new oil discovery in Block 10, located in the mid-deep water of the Cuenca Salina in the Sureste Basin.
The Saasken-1 new field wildcat (NFW) prospect marks the sixth consecutive well drilled by Eni in the Sureste Basin. Situated about 65km off the coast, the Valaris 8505 Semi-submersible drilled the well, reaching a total depth of 3,830m.
Eni said that the new discovery may contain between 200 and 300 million barrels of oil (Mmbbl) in place.
The well discovered 80m of net pay of good quality oil in the Lower Pliocene, as well as Upper Miocene sequences.
Eni performed an intensive data collection on the well. The data indicates a production capacity of more than 10,000 barrels of oil per day (bopd) for the well.
The company said that this opens a potential commercial outcome in the block, a joint venture (JV) comprising Eni, Lukoil and Capricorn.
Eni operates the block and owns a 65% stake. Lukoil holds 20% and Capricorn holds the remaining 15% interest.
The JV will work to appraise the discovery and begin the studies for commercial development.
Eni has been operating in Mexico since 2006. The company owns rights in eight exploration and production (E&P) blocks, all in the Sureste Basin. Among these, it acts as an operator for six blocks.