Enap expands presence in Argentina

RíO GALLEGOS, January 25, 2018 – Enap Sipetrol, a subsidiary of Chile’s NOC, has acquired a new block off the coast of Argentina’s Santa Cruz province, the company announced on Wednesday.

The company purchased a 100% stake in the 886-square-kilometre Octans Pegaso block from a consortium of Total Austral, Wintershall Energía and Eni. The licence for Octans Pegaso will expire in 2031 and can be extended for an additional 10 years.

“It is an important step in our growth path in Argentina, where we have been concentrating important efforts in the province of Santa Cruz,” Julian Aranis, Enap Sipetrol’s E&P manager, said in a statement. “In this way, Enap Sipetrol adds a business that allows it to think not only of the important growth and incorporation of new reserves for the company, but also for the future contribution of hydrocarbons for the energy supply of Argentina and the region.”

Enap entered Argentina in 1991 and began producing from the offshore Magallanes field in partnership with YPF in 1994. After the recent completion of the Magallanes Area Incremental Project in 2017, the area produces around 6,290 barrels of oil and 4 mcm (141 mcf) of gas per day.

The company also has stakes in several onshore assets in Argentina’s Austral and San Jorge Gulf basins, including the Turbio Este block, which it acquired in September.

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