Eni contracts Valaris semi-submersible to drill Gulf of Mexico field

Eni México plans to drill the Yatzil exploration well using a semi-submersible platform owned by Valaris later this year in shallow waters of the Cuencas del Sureste area in the Gulf of Mexico.

Valaris said in a statement that it had signed a three-well contract with the Mexican subsidiary of Italian energy giant Eni using its DPS-5 semi-submersible (pictured).

Drilling is expected to start in the fourth quarter of 2022 and last around 240 days. Valaris said rental of the semi-submersible entails a daily operating fee of US$313,500 and a mobilization fee of US$1.2mn.

The contractual area, which covers 591km2, is approximately 55km from Coatzacoalcos, Veracruz state, in the north of the Cuencas del Sureste region.

The DPS-5 unit relies on a proprietary ENSCO 8500 Series DP-2 design, according to Valaris, with ultra-deepwater (7,500+ foot) capabilities.

Currently, the platform is under contract until October with Murphy Oil in the northern part of the Gulf of Mexico and will be moved south later this year.

ENI AND CAPRICORN

Having finished a two-year reassessment, Eni and 30% consortium partner Capricorn Energy are ready to drill again at the Area 7 block, where they hope to confirm resources of 250Mboe (million barrels of oil equivalent).

The well would help both companies determine whether a standalone or hub development strategy is more appropriate to exploit the area's potential.

An earlier exploration well, Ehecatl, was spudded in the area in 2020, but has since been shuttered with no oil found.

Besides Area 7, Eni has participation in areas 1, 10, 14, 24 and 28. In Area 1, the company discovered three fields: Amoca, Miztón and Tecoalli. Miztón could yet prove to be a shared deposit with state-owned firm Pemex, which operates the neighboring 0149-M-Uchukil concession.

Capricorn, meanwhile, has a share in Area 9, 10 and 15, in addition to Area 7.