Mexico discovery strengthens Eni portfolio

European firm returns oil from block acquired in landmark bidding round. But progress towards first production at Zama faces renewed uncertainty

Offshore Mexico was already a key component of the upstream strategy of Italian E&P company Eni. But another important discovery in the region, announced on 17 February, means its involvement is set to significantly deepen. The assets it acquired in the country’s first bidding round—launched under former president Enrique Pena Nieto to end the hegemony of state-owned energy giant Pemex and fast-track offshore oil production—achieved start-up ahead of schedule last year and is progressing towards its target of 100,000bl/d oe. The arrival of oil means Eni has been able to turn its attention back to its exploration programme, in the blocks awarded in Mexico’s second bidding round. A consort