en.Wedoany.com Reported - Italian energy company Eni has signed an agreement with U.S.-based APA Corporation to become a partner in the OFF-6 block offshore Uruguay. Upon completion of the transaction, APA will retain a 60% working interest, with Eni holding the remaining 40%. The transaction value was not disclosed.

Under the arrangement, Eni will cover the majority of drilling costs for the first exploration well in 2027. APA will continue to serve as operator of the OFF-6 block, and the well will mark APA's first exploration well in the Pelotas Basin offshore Uruguay.

Uruguay's National Administration of Fuels, Alcohol and Portland Cement (ANCAP) previously disclosed that the exploration well in the OFF-6 block is scheduled to spud from September 2027. The well is one of the core work obligations APA assumed during the first four-year exploration period of the block.

OFF-6 is part of Uruguay's deepwater to ultra-deepwater exploration area. Since acquiring the block, APA has conducted petroleum geology studies, prospectivity assessments, and analysis of existing data, and plans to use the first well to test the hydrocarbon potential of the submarine Cretaceous target intervals.

This marks Eni's second block interest acquired offshore Uruguay. In November 2025, Eni signed an agreement with Argentina's national oil company YPF to acquire a 50% interest in the OFF-5 block and serve as operator, a transaction still subject to approval by Uruguayan authorities. OFF-5 covers approximately 16,883 square kilometers, located about 200 kilometers from the coast, with water depths ranging from approximately 800 to 4,100 meters.

ANCAP awards exploration and production contracts for offshore blocks through the "Uruguay Open Round." The contracts can extend up to 30 years, with exploration-phase costs and risks borne by the contractor; in the event of a commercial discovery, ANCAP may elect to participate in the project in accordance with the contract terms.