Chile opens southern hydrocarbons

摘要

Bidding begins for southern tip of South America. Chile's Magallanes Basin offers proven petroleum systems, active fields, installed infrastructure, active exploration efforts and, as of June 10, a government that wants domestic and foreign investors to take a look at its potential. The nation put 10 blocks on the line. Seven of the blocks will belong to the successful bidder or consortium and the other three require the bidder to form a joint venture with state oil company Enap. Those blocks are in the neighborhood of active oil and gas projects. Exploration started 61 years ago in Chile and Arco and Hess were the first private companies allowed in the country in the 1970s. Since that time, Chile has signed 17 CEOPS (special petroleum operating contracts), 15 onshore and two offshore.