Eni strengthens and expands its presence in Uruguay’s offshore sector

Eni has officially entered the OFF-5 offshore exploration block in Uruguay through an agreement signed with MIWEN, a wholly owned subsidiary of YPF, and Uruguay’s National Oil Company, ANCAP. The agreement follows approval from the Uruguayan authorities.

Under the agreement, Eni will serve as operator of the OFF-5 block, holding a 50% participating interest, while MIWEN will hold the remaining 50%. The block is currently in its first exploration period, with studies underway to further assess and develop its hydrocarbon potential. Eni will leverage its proprietary technologies to accelerate exploration activities and maximize the value of the area.

Eni’s partnership with MIWEN in Uruguay further strengthens its collaboration with YPF, with both companies also working together on the integrated upstream-midstream Argentina LNG (ARGLNG) project. The agreement also expands Eni’s presence and activities across South America.

In addition, Eni has recently reached an agreement to acquire a 40% interest in the neighboring OFF-6 block, which is operated by APA Corporation.