Eni announces the approval of the Development Plan for the discoveries of the 1 Area in the offshore area of ​​Mexico

Eni announces that the National Commission of Hydrocarbons (Comisión Nacional de Hidrocarburos, CNH) of Mexico approved yesterday the Development Plan for the discoveries of Amoca, Miztón and Tecoalli located in the 1 Area (Eni 100%), in the surface waters of the Bay of Campeche. This result was achieved only after 32 months from the signature of the Production Sharing Contract (PSC) for the 1 Area, won by Eni in an international tender, and 17 months after the first well in the block.

Eni's CEO Claudio Descalzi said he was "extremely satisfied with this result, obtained thanks to a close and pro-active collaboration between Eni and the Mexican authorities, and proud of the contribution that Eni can give to the country's innovation and progress. in a sustainable and positive way for society. The development of the 1 Area will be accelerated, in line with Eni's strategy of maximizing long-term value for stakeholders and shareholders ".

It is estimated that the 1 Area contains 2.1 billion barrels of oil equivalent in place (90% oil) in reservoir rocks of excellent quality. The development will take place in phases, with the start of the early production phase (early production) expected in the first half of the 2019 through a platform located on the Miztón field. Production will be transported to the ground by a multi-phase line from 10 "and then treated in an existing Pemex plant. The anticipated production plateau will be of 8.000 oil barrels per day (bopd).

The main field production phase (full field) will start at the end of 2020, through a floating production, storage and offloading unit (Floating Production, Storage and

Offloading, FPSO) with a processing capacity of 90.000 bopd. Two other platforms will also be installed on the Amoca field and one on the Tecoalli field. The 1 Production Area plateau will be 90.000 bopd from 2021. Total investments for development are estimated at 1,9 billion dollars.

Eni will take the Final Investment Decision (FID) in the 4 2018 quarter, although some initial investments have already been authorized for long delivery materials and to start the construction of the platform for the early production phase.

Eni is present in Mexico from 2006 and has created its subsidiary to 100% Eni Mexico S. de RL de CV in 2015. Currently the company has exploration rights on 6 exploration and production blocks in the Sureste basin, all as Operator: 1 Area (Eni 100%), 7 Area (Eni 45%), 10 Area (Eni 100%), 14 Area ( Eni 60%), 24 Area (Eni 65%) and 28 Area (Eni 75%). Eni plans to build two exploration wells in the recently acquired blocks in the 2019.

Eni announces the approval of the Development Plan for the discoveries of the 1 Area in the offshore area of ​​Mexico

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