Italian oil company Eni has signed an agreement for the development and exploitation of three fields in the Bay of Campeche, offshore Mexico.
The Production Sharing Contract for the development and exploitation of the Amoca, Miztón and Tecoalli oil fields was signed with the Comisión Nacional de Hidrocarburos of Mexico (CNH) in Mexico City.
According to Eni’s Tuesday statement, the company will now proceed with the delineation campaign of the fields by drilling four new wells, with the target of identifying a synergic and fast track development plan.
Eni was awarded the rights for the development and exploitation of the three fields, located inside the “Area 1”, on September 30, 2015, following an international tender. The fields are in conventional waters at a depth of 20-40 meters close to shore.
According to the official estimates by the CNH, the combined oil volumes in place for the three fields amount to approximately 800 million barrels of oil and 480 billion cubic feet of associated gas.