The company highlighted the importance for the country of the discovery in Tierra del Fuego - this fact marked the beginning of the state-owned company's history.
Enap celebrated eight decades since the discovery of crude oil in Well 1, in the Springhill area of Tierra del Fuego, with an event held at Cabo Negro industrial complex in Magallanes.
The company highlighted the importance of this milestone for Chile's history and reaffirmed its strategic role in securing the country's energy supply and projecting its leadership in the energy transition, displaying the progress made in the erection of its first green hydrogen plant.
The event was led by Gloria Maldonado, the chair of the board; as well as Julio Friedmann, the general manager. It was attended by the presidential delegate, José Ruiz; the mayor of Punta Arenas, Claudio Radonich; the mayor of Primavera, Karina Fernández; ministerial secretaries; and representatives of Enap workers.
“This anniversary is more than just a date. It reflects the spirit that has defined Enap as a company belonging to all Chileans. We were founded as a state-owned company to guarantee energy supply in a developing country, since then we have renewed our commitment to this strategic role year after year. Today, we honor that legacy, value our present, and reaffirm our promise to continue moving forward with the same strength that saw us emerge. Our roadmap aims to address a major challenge of the 21st century, which is the energy transition," as stated by Maldonado.
Friedmann emphasized the company's solid position and its ability to adapt to the demands and challenges of a changing environment: "Since that December 29, when pioneers first pumped crude oil in the country, we have undergone a transformation. Chile has changed, and so have we. Today, we are not the same company, but we retain the drive and courage that gave us life. We have made progress in hydrocarbon exploration and production, in the modernization of our refineries, in the efficiency of our operations, in respect for the environment, in caring for the people who are part of the company, in the integrity of our facilities, and in the development of projects that integrate clean energy. There is no better proof of this than the construction here in Cabo Negro of our first green hydrogen plant."
At the same time, the presidential delegate for Magallanes, José Ruiz, emphasized that "we must acknowledge the Empresa Nacional de Petróleo, which has contributed enormously to the economic development of Región de Magallanes y la Antártica Chilena. It has been able to face the various challenges that the industry has faced, meanwhile it continues to be a public company that is a source of pride, with very good results in fuel generation as well as in the role it is playing in green hydrogen. This is a company that goes hand in hand with the development and economic future of the region," he said.
Milestones in 80 years
The commemoration in Cabo Negro of the 80th anniversary of the discovery of crude oil marked the end of a 2025 marked by significant achievements for the company. In terms of financial results, the company will complete its fifth consecutive year of profits, reaching its lowest debt level since 2010. Internationally, it reported the successful completion of the exploratory process at the Pambil A-1 well in Ecuador; additionally it signed long-term contracts to supply crude oil from Vaca Muerta for a projected value of close to US$12 billion. Along with this, it announced the strengthening of its logistics business as a strategic pillar of the company, with the aim of boosting the efficiency and profitability of its assets. It launched Enap Renewable Diesel as part of its line of new products that contribute to the energy transition; in addition, it began the construction of its green hydrogen plant in Cabo Negro.
“This operational and financial health is the result of planned and structured work and it is the foundation that will allow us to continue fulfilling our strategic mission of ensuring the energy that powers Chile. These achievements are not the result of chance, but rather of a strategic vision and a shared conviction among the Board of Directors, management, and, above all, the tireless efforts of each and every Enap worker,” Friedmann emphasized.
In this way, the company commemorated the 80th anniversary of the discovery of oil in Tierra del Fuego, highlighting its history, emphasizing its solid operational and financial present, and focusing on a future marked by energy transition and technological innovation.
Green hydrogen plant
Due to its geographical and climatic characteristics, Magallanes has become a hub for the development of the green hydrogen industry and its by-products. In this context, Enap has made available its extensive enabling infrastructure (maritime terminals, storage centers, and expertise in the area) for the development of this new energy source. It has also built its first green hydrogen plant in Cabo Negro industrial complex, which is scheduled to begin operations in 2026.
The plant will be powered by renewable energy from Vientos Patagónicos wind farm, in which Enap is the largest shareholder (with 66%). It will have a production capacity of 19 kilograms of hydrogen per hour, which is equivalent to what a bus or truck needs to travel 300 kilometers.
The main objective of the project is to develop know-how, and this production will not only be useful to Enap, but also to the development of applications with third parties such as the Green Hydrogen Technology Center in Magallanes, among others. We are building technical, operational, and human capacities that will allow us to open new sustainable energy businesses and project the company into the future, just as Enap was a pioneer in hydrocarbon production 80 years ago," said Friedmann.
Maldonado strengthened the company's commitment: “Enap is a key player in Chile's development and growth, guaranteeing all inhabitants of the territory an efficient supply of world-class fuels and energy, which also ensure better environmental performance. The future green hydrogen plant is a clear example of how we are firmly advancing in this transformation.”