Eni Raises Mexico Estimates as Drilling Campaign Ends
Italian energy group Eni said on Tuesday it had raised its estimates for oil and gas in its Area 1 prospect in Mexico to 2 billion barrels from a previous 1.4 billion after completing its drilling campaign.
The state-controlled major said around 90 percent of the resources in place were oil.
The development plan for Area 1 will shortly be submitted to local authorities for approval, with production startup planned in the first half of 2019.
Eni is counting on Mexico to help rebalance its resource portfolio which is skewed to gas after major discoveries in Egypt and Mozambique. (Reporting by Stephen Jewkes
