Eni Targets Frontier Potential in Uruguay With Block OFF-5 Entry

Eni has signed a deal to acquire a 50% interest and operatorship of the offshore exploration Block OFF-5 in Uruguay from Argentina’s YPF, marking a fresh push into one of the Atlantic Margin’s least explored basins. The transaction, announced from San Donato Milanese, will take effect once validated by Uruguayan authorities. The 16,883-km² block lies some 200 kilometers off the Uruguayan coast in water depths ranging from 800 to 4,100 meters. Currently operated by MIWEN, a wholly owned YPF subsidiary, the ...