Projects
CEOP
General description
Oil Operation Special Agreements (CEOP)
Pursuant to an international bid, on April 30, 2008 the Chilean Government was granted eight blocks (territory portion) for the exploration of oil and natural gas deposits, in Magallanes Region. ENAP was one of the forerunning companies in this process, and it also acted as a technical entity to advise the Chilean Government in its development.
The blocks granted, and the awarded companies and consortiums were: Tranquilo Block, IPR- Manas; Russfin Block, Apache; Brótula Isla Magdalena and Porvenir Blocks, (all three granted to Greymouth). The awarded companies participate in a 50% association with ENAP in the three remaining blocks, el Coirón (Pan American Energy), Caupolicán (Greymouth) and Lenga (Apache).
Besides, in December 2010, the Company’s board approved a process of inviting international oil companies to become partners with ENAP in hydrocarbon exploration work in five areas located on Tierra del Fuego island in the 12th Region of Magallanes and Chilean Antarctic.
In September 2011, ENAP, and the companies Geopark, YPF and Wintershall, presented Special Petroleum Operations Contract (CEOP, in Spanish) requests to the Ministry of Energy, concerning five exploration blocks in Magallanes Region:
Isla Norte, Campanario, Flamenco, San Sebastián and Marazzi-Lago Mercedes.
In the next months, this Secretary of State will define the awarding of these CEOPs.
Background
In March 2007, the former President of the Republic, Michelle Bachelet, within the framework of "Chile Invierte" plan, announced an international bid to attract gas and oil Exploration and Production investments in ten geographic blocks located in the Magellan Basin.
On June 8, the Mining Ministry launched the International bidding process in Punta Arenas, which included an active advertisement program, both in Chile and abroad.
On October 10, a total seven companies and/or consortiums presented offers for nine of the ten blocks under bidding.
On November 15, the Government granted nine blocks to six international companies. ENAP participates with 50% of the rights in three of these blocks.
On April 30, 2008 the awarded officially entered into the agreements with the Chilean Government.
