Eni Expands Presence in Uruguay with New Offshore Exploration Block
Eni has signed an agreement to join a new offshore exploration block, OFF-5, located off the coast of Uruguay. The deal involves Eni partnering with Argentina's Miwen and Uruguay’s national oil company Ancap. This marks Eni's first operatorship in the region as it continues its strategy to expand into Latin American energy markets. The collaboration includes a wholly-owned subsidiary of YPF, Argentina's state-controlled oil firm, which adds regional expertise to the project. The move is expected to enhance Eni’s footprint in South America and potentially unlock new hydrocarbon resources in Uruguay’s offshore areas.
