Eni-led consortium secures block offshore Argentina

May 20, 2019

Offshore staff

SAN DONATO MILANESE, Italy – The Argentinian authorities have awarded the exploration license of offshore block MLO 124 to an Eni-led consortium.

The award is the outcome of the consortium’s successful bid in the international bid round “Ronda Costa Afuera n. 1” held on April 16, 2019.

Block MLO 124 is in the Malvinas basin, some 100 km (62 mi) off the coast of Tierra del Fuego, encompasses an area of 4,418 sq km (1,706 sq mi) in water depths ranging from less than 100 to 650 m (328 to 2,133 ft).

Eni holds 80% working interest and is the operator of a consortium, which also includes Tecpetrol S.A. and Mitsui & Co. Ltd., with 10% each.

The initial activity will be a 3D geophysical survey covering the entire block.