Eni To Invest $1.8 Billion In Offshore Mexican Oil Fields By 2040

Italian oil major Eni expects to invest $1.795 billion in three offshore Mexican oil fields by 2040, according to a development plan approved by Mexico’s oil regulator July 31.

The plan covering the Amoca, Mizton and Tecoalli shallow water fields is the second one approved by the regulator, known as the National Hydrocarbons Commission (CNH), following a landmark 2013 energy opening that has led to more than 100 oil and gas contracts being awarded in a series of auctions.

Eni sees initial crude oil production of 8,000 barrels per day (bbl/d) in early 2019 from its Amoca and Mizton fields, and ramping up to 90,000 bbl/d by 2022, according to the CNH. Initial production at the Tecoalli Field is seen beginning in 2024.

The development plan forecasts 32 wells, four platforms, a gas pipeline connecting to the coast of southern Tabasco state, as well as the acquisition of an FPSO. The FPSO will be based in the Mizton Field and will be used to separate and store oil and gas, and ultimately fill arriving tankers with crude.