Eni is now the operator of the OFF-5 block with a 50% interest, alongside partner MIWEN, which holds the remaining 50%.
The OFF-5 block is currently in its first exploration period, and studies are underway to mature the area's hydrocarbon potential. Eni will apply its proprietary technologies to accelerate and maximize the value of these activities.
Eni’s entry into Uruguay alongside MIWEN further strengthens the collaboration between Eni and YPF, partners in the integrated upstream-midstream Argentina LNG (ARGLNG) project, as well as the presence of Eni in South America.
Earlier, Eni has reached an agreement to acquire a 40% interest in the adjacent OFF-6 block, operated by APA Corporation.
About the OFF-5 block
- located approximately 200 km off the coast of Uruguay;
- covers an area of 17,000 km² at depths ranging from 800 m to 4,100 m;
- is in the first phase of development;
- is part of the unexplored section of the Atlantic margin, which shares similar geological characteristics with known oil and gas basins, including the Orange Basin in Namibia.
