Español

 

Guyana


Trinidad
& Tobago




Very usefull links



PW
Bookstore





News links

AP

AFP

Aljazeera

Dow Jones

Oil price

Reuters

Bloomberg

Views and News
from
Norway

 

 

 

Eni says offshore Mexico Saasken-1 well find could make block 10 commercial

cairn Energy

Reporting by David Alire Garcia/Reuters

MEXICO CITY
Petroleumworld 02 18 2020

Italy's state-controlled oil company Eni said on Monday it notched an offshore discovery just off Mexico's southern Gulf Coast, marking “a potential commercial outcome” in its area because of other nearby prospects.

The new find is believed to contain between 200 million and 300 million barrels of light oil at a water depth of 1,115 feet (340 m) and comes about two years after the company said it had raised the estimate from a separate offshore prospect in Mexico to 2 billion barrels.

The Milan-based company said in a statement that its Saasken-1 exploratory well that made the discovery was about 40 miles (65 km) off the Mexican coast, marking the sixth consecutive successful well drilled in its offshore acreage in the country.

Tests show that Saasken-1 could hold a production capacity of more than 10,000 barrels per day (bpd), the company added.

“The discovery is opening a potential commercial outcome of Block 10 since several other prospects located nearby may be clustered in a synergic development,” Eni said.

The Italian major was one of the big winners at a series of Mexican oil auctions conducted from 2015 to 2018, and currently holds stakes in eight contracts, including six in which it runs operations.

Eni currently produces some 15,000 bpd from another block it won at auction in Mexico, and expects output to reach 100,000 bpd during the first half of next year.

Mexican President Andres Manuel Lopez Obrador, a leftist energy nationalist, has since suspended the oil auctions as he seeks to boost state-owned Pemex, which has experienced 15 straight years of falling oil output.

Lopez Obrador long opposed the 2013 constitutional energy overhaul enacted under his centrist predecessor that ended Pemex's decades-long monopoly. While he has not scrapped the reform, he has challenged contract winners to invest and quickly produce oil before he considers allowing more auctions.

The discovery by the Eni-led consortium, which also includes Russia's Lukoil and Mexico's Capricorn Energy, was made in the southern Gulf's Salina basin.

 



Reporting by David Alire Garcia; Editing by Peter Cooney from Reuters.

reuters.com 02 17
2020

________________________


We invite you to join us as a sponsor.
Circulated Videos, Articles, Opinions and Reports which carry your name and brand are used to target Entrepreneurs through our site, promoting your organization’s services. The opportunity is to insert in our stories pages short attention-grabbing videos, or to publish your own feature stories.________________________

Copyright© 1999-2020 Petroleumworld or respective author or news agency. All rights reserved.

We welcome the use of Petroleumworld™ (PW) stories by anyone provided it mentions Petroleumworld.com as the source.

Other stories you have to get authorization by its authors. Internet web links to http://www.petroleumworld.com are appreciated.

Petroleumworld welcomes your feedback and comments, share your thoughts on this article, your feedback is important to us!

We invite all our readers to share with us
their views and comments about this article.
Write to editor@petroleumworld.com

By using this link, you agree to allow PW
to publish your comments on our letters page.

Any question or suggestions,
please write to: editor@petroleumworld.com

Best Viewed with IE 5.01+ Windows NT 4.0, '95,
'98,ME,XP, Vista, Windows 7,8, 10 +/ 800x600 pixels

Twitter: @petroleumworld1


 

TOP

Contact: editor@petroleumworld.com,

Editor & Publisher: Elio Ohep/
Contact Email: editor@petroleumworld.com

CopyRight © 1999-2020, Paul Ohep F. - All Rights Reserved. Legal Information

PW in Top 100 Energy Sites

CopyRight©1999-2020, Petroleumworld ™  / Elio Ohep - All rights reserved

This site is a public free site and it contains copyrighted material the use of which has not always been specifically authorized by the copyright owner.We are making such material available in our efforts to advance understanding of business, environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have chosen to view the included information for research, information, and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission fromPetroleumworld or the copyright owner of the material.