03:07 PM EDT, 07/08/2024 (MT Newswires) -- Eni (E) said Monday it has made a new oil and gas discovery in offshore Mexico.

The Italian energy company said it made the discovery on the Yopaat-1 EXP exploration well in Block 9 situated in the Sureste Basin. Eni operates Block 9 as a 50-50 joint venture with Spain's Repsol.

Eni said preliminary estimate indicates a potential of 300 to 400 million barrels equivalents of oil and associated gas in place.

Combined with discoveries in Eni-operated Blocks 7 and 10, the overall estimate of resources in the Sureste Basin exceeds 1.3 billion barrels of oil equivalent, allowing it to advance with the studies towards a potential future "Hub" development, Eni said.

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