Eni signs acquisition deal with YPF to operate block offshore Uruguay
Eni SpA has agreed to acquire a 50% share in and operatorship of exploration Block OFF-5 in Punta del Este basin offshore Uruguay from YPF.
The 16,883-sq km block lies 200 km from the coast in 800-4,100 m of water and falls within the unexplored part of the Atlantic Margin with close geologic analogies to proven petroleum basins, Eni said in a release Nov. 25.
The block is currently operated by YPF subsidiary MIWEN and is in the first exploration period.
Closing of the deal is subject to approval of Uruguayan authorities.