ENAP Farms-Out Five Magallanes
del Fuego, Chile
Nacional del Petróleo, ENAP, and the companies Geopark, YPF and
Wintershall, today presented Special Petroleum Operations Contract (CEOP,
in Spanish) requests to the Ministry of Energy, concerning five exploration
blocks in Magallanes Region.
- San Sebastián,
- Marazzi-Lago Mercedes.
In the next months, this Secretary of State will define the awarding
of these CEOPs.
In December 2010, ENAP initiated a farm out by means of which it invited
international companies with large experience in exploration and exploitation
The purpose of this invitation process, which concluded yesterday with
the signature of participation agreements with the companies mentioned,
is to accelerate the prospect and production of hydrocarbons in Magallanes,
incorporating technical knowledge as well as lowering risks associated
to this activity.
The potential subscription of the five CEOPs with the State of Chile
in the areas mentioned above, will commit investments of at least US$
145 million for the next three years.
Stellar acted as advisors to ENAP.