Chile: GeoPark to explore areas on trend with Fell block

By OGJ editors

Chile’s state ENAP has chosen GeoPark Holdings Ltd. as its partner to explore three oil and gas blocks on Tierra del Fuego.

GeoPark has been awarded 50% participation in the Campanario and Flamenco blocks and a 60% stake in the Isla Norte block.

GeoPark will operate the three blocks and carry ENAP during the initial exploration period. ENAP and GeoPark have jointly requested from the Chilean government a special petroleum operations contract with respect to each of the blocks.

GeoPark had proposed to invest at least $101 million over 3 years and execute an aggressive exploration and development program on the blocks, which total 414,400 acres and are geologically contiguous with the Fell block, where GeoPark has successfully built a production and reserve base.

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