Eni Starts Production at Mexico's Mizton Field
July 02 2019 - 9:00AM
Dow Jones News
By Nathan Allen
Eni SpA (ENI.MI) said Tuesday that it has begun production at
the Mizton offshore field in Mexico's Campeche Bay, becoming the
first international oil company to begin offshore extraction since
the country's landmark energy reforms.
Mizton is the first offshore field to be developed in the
country since former president Enrique Pena Nieto opened up the
oil-and-gas industry to foreign investment in 2013, breaking the
75-year monopoly held by national oil company Petroleos
Mexicanos.
Starting production at Mizton marks the first step in developing
the broader exploration block known as Area 1, which is estimated
to hold 2.1 billion barrels of oil equivalent, Eni said.
Initially the field will produce up to 15,000 barrels of oil a
day, with potential to scale up to 100,000 barrels of oil
equivalent a day in 2021, Eni said.
Crude extracted from Mizton will be transported via pipeline to
Pemex's San Ramon plant for processing.
Write to Nathan Allen at nathan.allen@dowjones.com
(END) Dow Jones Newswires
July 02, 2019 08:45 ET (12:45 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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