Chile’s state ENAP has chosen GeoPark Holdings Ltd. as its partner to explore three oil and gas blocks on Tierra del Fuego.
GeoPark has been awarded 50% participation in the Campanario and Flamenco blocks and a 60% stake in the Isla Norte block.
GeoPark will operate the three blocks and carry ENAP during the initial exploration period. ENAP and GeoPark have jointly requested from the Chilean government a special petroleum operations contract with respect to each of the blocks.
GeoPark had proposed to invest at least $101 million over 3 years and execute an aggressive exploration and development program on the blocks, which total 414,400 acres and are geologically contiguous with the Fell block, where GeoPark has successfully built a production and reserve base.
About the Author
Alan Petzet
Chief Editor Exploration
Alan Petzet is Chief Editor-Exploration of Oil & Gas Journal in Houston. He is editor of the Weekly E&D Newsletter, emailed to OGJ subscribers, and a regular contributor to the OGJ Online subscriber website.
Petzet joined OGJ in 1981 after 13 years in the Tulsa World business-oil department. He was named OGJ Exploration Editor in 1990. A native of Tulsa, he has a BA in journalism from the University of Tulsa.
