Eni won with a 100% share a Production Sharing Contract to appraise, develop and exploit the oil fields of Amoca, Miztón e Tecoalli, located in the Area 1 in the Campeche Bay, offshore Mexico, following an international auction held yesterday in Mexico City.

The Amoca, Mitzon and Teocalli fields are located in "Area 1" shallow water (from 20 to 40 meters depth) close to shore, in an context in which Eni is endowed with a proved experience and operates worldwide with high efficiency and low operating costs. According to the official estimates by the local authorities which organized the bid round (Comisión Nacional de Hidrocarburos - CNH) the combined oil volumes in place for the three fields are approximately 800 million barrels of oil and 480 billion cubic feet of associated gas.

Eni will now move on with the appraisal campaign of the fields with the target to identify a synergic and fast track development plan.

Of the five areas offered in the bid round, the Area 1 was the one with the highest level of competition. Area 1 award is subject to the approval of local authorities. Yesterday’s auction was the second bid called by CNH under the “Ronda 1‘, following the Energy Reform of 2014 which allows local and foreign companies to operate in Mexico.

About ENI

Eni is an integrated company that operates across the entire energy chain, employing some 78,000 people in 90 countries around the world. Scientific research and technological innovation are at the heart of its strategies for sustainable development.
Eni’s excellent portfolio of conventional oil assets with competitive costs and the strong resource base with options for anticipated monetization ensure a robust value generation at Eni’s upstream activity. The vertical integration provided by the large presence in the gas and lng markets, and the know-how in refining and chemical sectors enable the company to capture synergies and catch joint opportunities and projects in the marketplace.