US EditionYpf Partnered with the Italian Energy Company Eni to Seek Offshore Oil in Uruguay
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Through its state oil company, Ancap, Uruguay has seven offshore areas that have current contracts. Read more
The OFF-5 block, located 200 km from the Uruguayan coast, will be able to open a new exploratory border in the Southern Cone thanks to its similarities with the prolific Namibian basin.
The association was structured under the farm-out modality, by which ENI Uruguay Ltd. acquires 50% participation in the block and will assume its operation after the completion of the process
The good crumbs between YPF and Italian Eni continue to bear fruit. In addition to a joint project to export LNG (gas that will leave Vaca Muerta and be converted), there will also be a joint agreement for an “offshore” block.“This is the OFF-5 block, located in deep waters 200 km from the coast of Uruguay. With an extension of approximately 17,000 km2 and a maximum depth of water of 4,100 meters, the OFF-5 is located in an area considered strat…
The CEO and president of YPF, Horacio Marín, announced an agreement with the Italian ENI to explore an offshore block 200 kilometers off the coast of Uruguay. The agreement between the companies implies that Eni Uruguay Ltd. acquires a 50% stake in the OFF-5 block and will assume the operation after the closure of the transaction, subject to approval by the Uruguayan authorities. SEE MORE: Vaca Muerta boosted historical record in Argentina’s oil…
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