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Enap's new five-year plan to increase market cap 50% by 2011




Petroleumworld
CARACAS
Petroleumworld.com 06 14 07

Chiles' oil company Enap's said its new five-year plan will increasing its market capitalization 50% by 2011, to a total capitalization to US$5.4bn, company CEO Enrique Dávila said, news agencies reported.

" The 2007-11 strategic plan is the most aggressive we have ever had," Dávila said.

In the past five years, Enap has increased its value 50%, said Dávila, who was speaking before the Chilean senate.

Enap will invest US$4.5bn in 2007-11 . US$2.3bn of its own funds and US$2.2bn will come through associations with third parties. The company was valued at US$3.4bn as of December 31, 2006

The objectives to attain are to diversify Chile's energy supplies and to make the country less reliant on natural gas imports from Argentina, Dávila added.

Petroleumworld 13 06 07

Copyright© 2007 Petroleumworld. All Rights Reserved.

 

 

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