Eni
said its Amoca-2 well, the first drilled by an international oil major in
Mexico since the 2013 energy reform, hit oil in Campeche Bay’s shallow waters.
The
well, which is located in Contractual Area 1, hit 110 m (361 ft) of net oil pay
from multiple good quality Pliocene reservoir sandstones, the company said in a
news release.
Drilled
to a total depth of about 3,500 m (11,483 ft), the well “confirmed the presence
of 18 degree API oil in the shallower formations, while the newly discovered
deeper sandstones contain high quality light oil,” Eni said. “Reserves are
still being assessed, but the well indicates a meaningful upside to the
original estimates.”
Eni
CEO Claudio Descalzi said the discovery builds on the company’s strong
exploration record. The company holds a 100% stake in the Area 1 and is
evaluating fast-track phased development options.
“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,” Descalzi said.
Eni
said it plans to continue drilling a new well, Amoca-3, in the same area before
drilling two delineation wells— Miztón-2 and Tecoalli-2—to appraise existing
discoveries and target new undrilled pools.
Source: www.epmag.com
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