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Chile Invites Canadian Companies to Invest in Hydrocarbons E&P
Petroleumworld
CARACAS
Petroleumworld.com 07 13 07Chile’s Mining Minister, Karen Poniachik, will visit Canada next week to promote new opportunities for international oil and gas companies to invest in Chile through a tender for hydrocarbons exploration and production (E&P) in ten geographic blocks located in the Magallanes Basin of southern Chile.
On Thursday, July 19, Minister Poniachik will participate in a business seminar in Calgary, Alberta, organized by the Canadian Petroleum Institute (www.cpican.com). This important institution brings together private operating and service companies and their executives, government regulatory agencies and specialized analysts and independent experts from the hydrocarbons sector.
This promotional event follows a similar road show which took place in Buenos Aires, Argentina on July 5. During this road show, a team from the Chilean Mining Ministry explained details of the tender to executives and other representatives of oil and gas companies that currently operate in Argentina.
In her visit to Canada, Minister Poniachik will be accompanied by Jerónimo Carcelén, legal advisor to the Mining Ministry, and by Carlos Herrero, head of the CEOP-Enap project.
The seminar will take place on the morning of Thursday, July 19, in Calgary’s Delta Bow Valley Hotel and will be followed by bilateral technical meetings with those companies that express interest in obtaining further technical and legal details of the bidding round. To attend the seminar or organize a bilateral meeting with the Chilean team, please contact Alice Fischer, Special Projects Officer at the Canadian Petroleum Institute, e-mail: (abfischer@cpican.com).
On June 10, the Chilean government launched an international bidding round to invite private companies to tender for ten geographical blocks located in the far south of Chile. The period for obtaining the term sheets and technical information closes on Thursday, August 9.The ten blocks put out to tender cover a total area of 32,356 km2. In three of the blocks (Coirón, Caupolicán and Lenga), the winning company or consortium will be partnered in the project by ENAP, the state oil company. In the remaining seven blocks (Tranquilo, Russfin, Porvenir, Brótula, Isla Magdalena, Bahía Inútil and Otway), the private company or companies will hold 100% of the block’s exploration and exploitation rights. In all ten cases, the winning bidder will act as the block’s operator.
The companies to which the blocks are awarded will sign a Special Operating Contract (CEOP) with the State of Chile. These contracts have a maximum duration of 35 years, divided into an Exploration Phase and a Production Phase.
For further information about the bidding round, please contact Jesús Figueroa, e-mail: jfigueroa@minmineria.cl.
Petroleumworld 12 07 07Copyright© 2007 Petroleumworld. All Rights Reserved.
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