Eni (E) said Tuesday it signed an agreement to acquire from YPF (YPF) a 50% share and operatorship in the exploration Block OFF-5 in Uruguay's offshore, effective after the approval of the country's authorities.

The block covers an area of 16,883 square kilometers in water depths of 800 to 4,100 meters and is in its first exploration period, the company said.

The block is currently held and operated by YPF's MIWEN, Eni said.

Financial terms of the deal were not disclosed.

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