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Eni Takes Major Stake in Uruguay's OFF-5 Exploration Block

Provided by Dow Jones Aug 31, 2026, 11:09:00 AM

By Najat Kantouar

Eni signed an agreement with Argentina's Miwen and Uruguay's national oil company Ancap to enter the OFF-5 exploration block offshore in Uruguay as it seeks to expand its footprint in the country.

The Italian oil major said is now the operator of the OFF-5 block with a 50% interest, while Miwen holds the remaining 50%. The OFF-5 block is in its first exploration period and studies are underway to mature the area's hydrocarbon potential, it added.

Miwen is the subsidiary of YPF, an energy company majority-owned by the Argentinian government.

The company hasn't disclosed any financial details.

Write to Najat Kantouar at najat.kantouar@wsj.com

(END) Dow Jones Newswires

August 31, 2026 02:09 ET (06:09 GMT)

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