On 17 December 2018, ENI issued a press release indicating it signed a sales and purchase agreement with QPI Mexico for a 35% working interest in the Amoca, Mizton, and Tecoalli fields related to the CNH-R01-L02-A1/2015 PSC contract.Â  The transaction is subject to governmental approvals.Â  The deal when finalized will have QPI involved in the first production from a field development project by foreign companies in Mexico.Â  ENI currently holds 100% working interest in the contract.Â  After formal approvals, ENI will continue to be the operator with 65% working interest and QPI will hold 35% working interest.  On 31 July 2018, the CNH formally approved the development plan submitted by ENI for the Amoca, Mizton, and Tecoalli fields related to the CNH-R01-L02-A1/2015 PSC contract.Â  The principal features of the development plan includes three phases with four fixed drilling platforms that will have 22 producing wells and 10 injectors, an FPSO, and pipeline to shore that will cost an estimated USD 7.496 billion to recover a total of 345.8 MMbo and 221.6 Bcfg through 2038.Â  The development concept was decided upon after review of several alternative production concepts.    The      three phases of the ENI development project will start with initial production      from the Mizton field in 3rd quarter 2019 producing from seven      wells and five water injection wells with all of the production going to      shore via a 10â, multi-phase pipeline to the PEMEX San Ramon processing      facility that will only take 8,000 bo/d of production.Â  The initial phase will conclude in the 4th      quarter 2020.  The      second phase will commence in 4th quarter 2020 and is      considered the definitive development phase that will produce the Amoca      and Mizton fields jointly through two fixed production platforms, 16      production wells and eight water injection wells producing through a      90,000 bo/d capacity FPSO.   The      third phase will commence in 1st quarter 2024 and will include production      from the Tecoalli field and the 2nd fixed platform in the Amoca      field.Â  The Amoca field final      development will include four additional production wells and two      additional injectors while the Tecoalli field will have a small fixed      platform to produce from only two production wells.  Maximum      production of oil will be 90,000 bo/d in 2021 and maximum gas production      will be 60 MMcfg/d.Â  Plateau      production of 90,000 bo/d is projected to last until 2025.  A      peculiar feature of the contract is that after year 10, ENI will have to      purchase the FPSO and flag it as a Mexican vessel.Â  At the end of the contract period the      FPSO and all equipment will revert to the government.
Mexico, CNH-R01-L02-A1/2015