Eni Expands Offshore Uruguay Footprint with Stake Acquisitions in OFF-5 and OFF-6
Italian energy company Eni has assumed operatorship of the OFF-5 block and agreed to take a non-operated interest in the neighboring OFF-6 license offshore Uruguay.
Italian energy firm Eni has expanded its upstream exploration footprint offshore Uruguay through commercial agreements covering two adjacent deepwater areas.
As part of the acreage expansion, Eni has taken over operatorship of the offshore OFF-5 block, securing a 50 percent participating interest in the asset.
In addition to the OFF-5 transaction, Eni has agreed to acquire a 40 percent interest in the neighboring OFF-6 block. Operatorship of the OFF-6 acreage remains with APA.
The transactions grant Eni an expanded presence across adjoining offshore blocks as upstream energy firms continue to evaluate maritime acreage across South America's Atlantic margin.
Source attribution
No external source recorded for this article.
This article is an original editorial summary. It does not reproduce the source text. See our AI & content policy.
Related coverage
A new multi-client geophysical acquisition program has commenced offshore northern Brazil following a recent discovery in the basin.
40d ago
An agreement between the Uruguayan government and Neltume Ports has concluded a multi-million-dollar international arbitration case over terminal operations in Montevideo.
40d ago
Argentine authorities are escalating territorial claims over the Falkland Islands by pursuing legal action against Israel-based energy firm Navitas Petroleum.
41d ago
South Korean carrier HMM has finalized a 25-year transport agreement with Brazilian mining major Vale deploying eight Newcastlemax newbuildings.
41d ago
A new memorandum of understanding targets emissions abatement at the Port of Rio Grande and lifecycle strategies for the Aura Sul Wind Project.
42d ago
The Macaé-based service provider will deliver comprehensive subsea maintenance, engineering, and intervention support across Petrobras's offshore assets.
42d ago