Eni has acquired a 50% stake and operatorship in exploration Block OFF-5 offshore Uruguay from YPF. The block covers 16,883km² at water depths between 800m and 4,100m. Eni will take over once Uruguayan authorities approve the transaction. This extends the collaboration between Eni and YPF in the region.

Eni’s subsidiary NAE has acquired an additional 2.5% interest in Nigeria’s OML 118 deep-water block from TotalEnergies EP Nigeria. The acquisition increases NAE’s share in the OML 118 production sharing contract from 12.5% to 15%. Eni aims to optimize its upstream portfolio and maintain involvement in deep-water projects in Nigeria.

Eni’s acquisition aligns with its strategy to maintain a presence in deep-water projects within Nigeria. The company has been operating in Nigeria since 1962 and reported an average equity production of 50,000 barrels of oil equivalent per day in 2025. The deal with YPF in Uruguay marks an extension of their collaboration in the region.

Read more at Yahoo Finance: Eni acquires 50% stake in offshore Block OFF-5 from YPF