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Eni boost offshore Mexican presence

Eni boost offshore Mexican presence

Italian oil and energy giant Eni and partner Qatar Petroleum have been awarded rights to a deepwater block in Mexico's Cuenca Salina basin, Eni said in a statement on Thursday.

Eni will operate Block 24 in the Cuenca Salina basin with 65 percent in joint venture with Qatar Petroleum with 35 percent, the company said.

Block 24 will strengthen Eni's presence in Mexico and allow it "to build up and consolidate a new core area with significant operational synergies in the country,"Eni stated.

Eni said it already holds a 100 percent stake in Area 1 in the Cuenca Salina Basin and holds operatorships in other three exploration and production blocks in the basin with stakes ranging from 45 percent to 100 percent.

Eni has been present in Mexico since 2006 and set up its wholly-owned subsidiary Eni Mexico S. de R.L. de C.V. in 2015.