Baku, Azerbaijan, May 20
By Leman Zeynalova – Trend:
Italia’s Eni company will be engaged in exploration offshore Argentina, as the Argentinian authorities officially awarded the exploration license of offshore block MLO 124 to an Eni-led consortium, Trend reports citing the company.
Reportedly, the award is the outcome of the consortium’s successful bid in the International Bid Round “Ronda Costa Afuera n. 1” held on 16 April 2019.
“The activity to be completed during the four years of the First Phase of the Exploration Period mainly consists in a 3D geophysical survey covering the entire block and other geophysical potential field surveys,” said the company.
Block MLO 124 is located offshore in the Cuenca Marina Malvinas (the Malvinas Basin), some 100 kilometers off the coast of Tierra del Fuego, and encompasses an area of 4,418 square kilometers in water depths ranging from less than 100 to 650 meters.
Eni holds 80 percent working interest and is the operator of a consortium, which also includes Tecpetrol S.A. and Mitsui & Co. Ltd., with 10 percent each.
Eni has been present in Argentina since 1991 with its subsidiary Eni Argentina Exploración y Explotación S.A., which owns a 30 percent working interest in the offshore concession “Tauro-Sirius”, located in Tierra del Fuego’s shallow water.
Eni is an Italian company with a worldwide presence. It is one of the global oil and gas super-players – operating in 71 countries worldwide and employing around 33,000 people.
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