Gulf Oil and Gas accountACCOUNT

Geopark Begins Drilling Operations in Tierra Del Fuego

Source: www.gulfoilandgas.com 4/25/2013, Location: South America

GeoPark Holdings Limited ("GeoPark"), the Latin American oil and gas explorer, operator and consolidator with operations and producing rights in Chile, Colombia and Argentina, is pleased to announce the beginning of new exploration drilling in Tierra del Fuego in Chile in its partnership with Empresa Nacional de Petroleo de Chile ("ENAP") with the spudding of the Chercan 1 well on the Flamenco Block.

Chercan 1 is the first of 21 exploratory wells on the Flamenco, Campanario and Isla Norte Blocks in Tierra del Fuego as part of an approximately US$100 million investment commitment during the First Exploration Period. As part of this program, approximately 1,000 sq km of 3D seismic have been carried out over the three blocks; out of a total 3D seismic program of approximately 1,500 sq km.

In its partnership with ENAP under the framework of the Special Operation Contracts signed with the State of Chile, GeoPark operates and has a 50% working interest in the Flamenco and Campanario Blocks and a 60% working interest in the Isla Norte Block. ENAP, the Chilean state-owned company, owns the remaining working interests in each Block.

GeoPark has interests in six blocks in southern Chile where it is the first and only independent oil and gas producer. GeoPark also has interests in ten blocks in Colombia and three blocks in Argentina. During 2013, GeoPark will carry out a 35-45 well drilling program in Chile and Colombia - with a total expected work program investment of US$200-230 million.

Commenting, James F. Park, CEO of GeoPark, said: "We are pleased to announce the start-up of the exploratory drilling campaign in Tierra del Fuego in partnership with ENAP. Similar to our experience on the Fell Block in Chile, we believe this region represents a high potential opportunity to discover and produce oil and gas in a stable and economically-prosperous country. Our partnership with ENAP adds an additional value-adding dimension by allowing our two companies to work together and collaborate in exploring, developing and investing in the Magallanes region."

In accordance with the AIM Rules, the information in this announcement has been reviewed by Salvador Minniti, a geologist with 32 years of oil and gas experience and Director of Exploration of GeoPark.

Drilling News in Chile >>

Norway >>  2/18/2020 - The Norwegian Petroleum Directorate has granted Lundin Norway AS a drilling permit for well 7221/4-1 cf. Section 15 of the Resource Management Regulat...
Egypt >>  2/14/2020 - SDX Energy Plc is pleased to announce that the SD-6X (Salah) well at South Disouq in Egypt (SDX 55% working interest) has commenced drilling operation...

Egypt >>  2/12/2020 - Italian energy group Edison has begun drilling an exploratory well in deepwater acreage in Egypt, not far from other giant east Mediterranean gas fiel...
Norway >>  2/12/2020 - ConocoPhillips Skandinavia AS, operator of production licence 917, has concluded the drilling of wildcat well 25/7-9 S. ...

United States >>  2/12/2020 - 88 Energy Limited ("88 Energy", 88E) is pleased to provide the following update related to operations for the upcoming Charlie-1 appraisal well, on t...
Angola >>  2/10/2020 - Oceaneering International, Inc. announced the award by units of BP p.l.c. ("BP"), of a contract to provide comprehensive riserless light well interven...

Related Categories: Artificial Lift  Cementing, Stimulation  Directional Drilling  Drilling  Drilling Engineering & Equipment Systems  Enhanced Oil Recovery  General  Logging, Perforating, Testing  Offshore Drilling  Reservoir/Completion Consultants  Workover & Well Services  Workover Rigs/Services 

Related Articles: Artificial Lift  Cementing, Stimulation  Directional Drilling  Drilling  Drilling Engineering & Equipment Systems  Enhanced Oil Recovery  General  Logging, Perforating, Testing  Offshore Drilling  Reservoir/Completion Consultants  Workover & Well Services  Workover Rigs/Services 


Chile Oil & Gas 1 >> 

Oil & Gas Projects in Chile >>

More News

Related Links

Gulf Oil and Gas
Copyright 2020 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.