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Chile: Seven exploration companies have tendered for Magallanes oil acreage
SANTIAGO
Petroleumworld.com 10 15 07
According to a website statement Chile’s Ministry of Mines announces that seven exploration companies have tendered for Magallanes oil acreage.
The exploration companies come from United States, Canada, New Zealand, Egypt and Russia. The statement went on to say that seven companies and consortia formally presented tenders on Wednesday in the international bidding process for the exploration and production of hydrocarbons in the ten blocks from the Magallanes basin.
Companies named on the website are: Total S.A. (US); Apache Canada LTD (Canada); Pan-American Energy LLC (US); Consortium Wintershall-Geopark-Methanex (US/Canada); Roch S.A. (Argentina); Greymouth Petroleum Holding Limited (New Zealand) and the consortium IPR-Manas (Egypt-Russia). Blocks attracting the most investors were: Otway, Tranquilo, Coirón and Lenga.In three of the blocks (Coirón, Caupolicán y Lenga), the company or consortium which is awarded the contract must participate in association with Chile’s government owned oil and gas company ENAP.
In the other six, (Tranquilo, Russfin, Porvenir, Brótula, Isla Magdalena and Otway), winners have full participation on exploration and exploitation rights and in all cases must act as the operating partner.
Story by Falkland Islands News Network 15 10 07
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