CAPITAL: SANTIAGO
MONETARY UNIT: PESO
REFINING CAPACITY: 204,849 B/CD
OIL PRODUCTION: 6,500 B/D
OIL RESERVES: 150 MILLION BBL
GAS RESERVES: 3.5 TCF
Chile's stable political and economic climate was made even more efficient with the continuation of privatization. The socialist government had long term plans to privatize the remaining two main government holdings, the national oil and copper concerns Empresa Nacional del Petroleo and Codelco.
In early 2000, ENAP sought partners to rejuvenate 21 mature oil and gas fields in the Magallanes basin along the Straits of Magellan. ENAP said since its first discovery, Springhill field in 1950, it had produced 450 million bbl of liquids and discovered 4.5 tcf of gas there by drilling 3,000 wells, including 800 offshore.
Early 2000 production averaged 6,900 b/d of oil and 45 MMcfd of gas.
If joint ventures were formed, ENAP had not announced them by the end of the year.
Methanex Corp. placed in service a new 100,000 dwt vessel it called the world's largest chemical tanker. Delivering methanol to Rotterdam and Houston from the Punta Arenas, Chile, complex, it was to save $5 million/year in shipping costs.
