Introduction

Block MLO 124 was awarded in the outcome of the consortium’s successful bid in the International Bid Round 'Ronda Costa Afuera n. 1' held on 16 April 2019.

Block MLO 124 is located offshore in the Cuenca Marina Malvinas (the Malvinas Basin), some 100 kms off the coast of Tierra del Fuego, and encompasses an area of 4,418 sq kms in water depths ranging from less than 100 to 650 meters.

The activity to be completed during the four years of the First Phase of the Exploration Period mainly consists in a 3D geophysical survey covering the entire block and other geophysical potential field surveys.

Eni: Operator with 80% interest

Tecpetrol: with 10% interest

Mitsui & Co: 10% interest