Eni Secures Offshore Exploration Rights in Uruguay

Eni signed an official agreement to enter the OFF-5 exploration block offshore Uruguay after receiving approval from Uruguayan authorities. The energy company serves as the operator of the block with a 50% interest, while MIWEN, a wholly owned subsidiary of YPF, holds the remaining 50%.

The block is currently in its first exploration period. Eni is utilizing proprietary technologies to evaluate the hydrocarbon potential of the area. This venture expands the existing collaboration between Eni and YPF, who are also partners in the Argentina LNG project.

In a related move to expand its regional footprint, Eni reached an agreement to acquire a 40% interest in the adjacent OFF-6 block. That specific block is operated by APA Corporation.