Italian giant ENI has hit oil in shallow waters of Mexico’s Campeche Bay, the company announced on Thursday.
In its release, ENI said it had confirmed oil found in multiple reservoirs at the Amoca-2 well.
It drilled the well in Area 1, around 200 kilometres off Ciudad de Carmen in the state of Campeche, at 25-metre water depth. The well reached a total depth of 3,500m. In the shallower formations, ENI found 18-degree API (American Petroleum Institute gravity) oil, while in deeper sandstones it confirmed high quality light oil.
The well is ENI’s first of four planned at Amoca. ENI is still planning to drill a new well, Amoca-3, in the same area.
This Amoca-2 well is the first drilled by an international company in Mexican waters since the government started its energy reform policy, which has seen state oil firm Pemex loosen its grip on production and has seen numerous private and overseas players bid at auctions for offshore rights.