The Argentine authorities have officially assigned the exploration license for the MLO 124 block to a consortium led by #Eni. The assignment took place following the International Bid Round “Ronda Costa Afuera n. 1 ”which was held on the 16 April 2019.
The MLO 124 Block is located in the Malvinas Basin, in the southern offshore of Argentina, about 100 km from the coast; covers an area of 4.418 square km, in water depths ranging from less than 100m to 650m.
Eni holds an 80% equity interest and is the operator of a consortium that also consists of Tecpetrol SA and Mitsui & Co. Ltd., each with 10%.
The activity planned in the four years of the First Phase of the Exploratory Period mainly consists in the acquisition of three-dimensional geophysical prospecting over the entire area of the block and other geophysical surveys with potential methods.
Eni is present in Argentina by the 1991 with its subsidiary Eni Argentina Exploración y Explotación SA, which holds the 30% of interest in the offshore concession "Tauro-Sirius", in the shallow waters of Tierra del Fuego.
