Italian operator Eni has announced a new oil discovery off Mexico with up to 300million barrels in place.
The discovery came from the Saasken-1 well, around 40miles off the country’s east coast in the Sureste Basin, drilled by the Valaris 8505 semisubmersible rig.
Eni said Saasken-1 discovered “80metres of net pay of good quality oil” after being drilled in a water depth of 340metres to a total of 3,830 metres deep.
Initial data indicates that the well has production capacity of 10,000 barrels per day.
Eni is the operator with a 65% stake, partnered with Lukoil with 20%.
Scottish oil explorer Cairn Energy holds the remaining 15% through its wholly-owned subsidiary Capricorn Energy Mexico.
Eni said there are several other prospects located nearby in the area, Block 10, which may be “clustered in a synergic development”.
The trio will now work to appraise the discovery and “exploit nearby synergies” to start studies for a commercial development.