Eni to Acquire 50% Stake in Exploration Block OFF-5 Offshore Uruguay

Key Takeaways Eni agreed to buy a 50% share and operatorship of the offshore Uruguay OFF-5 exploration block.The block spans 16,883 sq km in deep waters and sits in an unexplored Atlantic Margin area.Eni sees strong hydrocarbon potential and says the block aligns with its high-impact exploration goals.Eni S.p.A (E) , an Italian integrated energy company, has inked an agreement with Argentina’s state-owned oil company YPF (YPF) to acquire a 50% share and operatorship in the OFF-5 Block, offshore Uruguay. The ...