Eni said it plans to conduct a 3-D geophysical survey and possibly other geophysical field surveys across the MLO 124 Block offshore Argentina during a four-year exploration period.

The company said May 20 it was officially awarded an exploration license for the 4,418-sq-km block after placing the winning bid during Argentina’s international bid round April 16.

The block is located in the Malvinas Basin in water depths ranging from less than 100 m to 650 m.

Eni holds 80% working interest in the block and serves as operator of a consortium, which also includes Tecpetrol S.A. (10%) and Mitsui & Co. Ltd. (10%).