ENAP Acquired 100% of Petropower Power Plant

Source: www.gulfoilandgas.com 12/9/2016, Location: South America

The National Petroleum Company, ENAP, through its subsidiary ENAP Refineries SA (ERSA) - signed an agreement with Foster Wheeler-Amec plc for the purchase of 85% ownership of Petropower Energy Ltda. whose main operation is a cogeneration electricity and steam plant located in the Eighth Region.

With this operation, ENAP group of companies happens to have 100% control of the up to date energy firm owned 15% - and consolidates its final entry into the market of electricity generation, under the defined strategic role for the state in the government's Energy Agenda.

The General Manager of ENAP, Marcelo Tokman , said that "this acquisition will allow us two fundamental objectives for our strategic role. First, we ensure the operational continuity of the Bio Bio Refinery, but also allows us to sell excess energy to third parties, injecting the Central Interconnected System (SIC). "

He added that "this acquisition strengthens our position in the energy sector, enabling us to better fulfill the role assigned by the Energy Agenda contribute to power development in the country".

Petropower is a limited liability company, founded in 1993, whose main rotation energy production, steam and certain interconnection systems through its operation located in the commune of Hualpen, Biobio Region.

The complex includes a unit Petropower cogeneration of electricity and steam, a plant diesel hydrotreating and delayed coking. Finally, after this operation, the company Petropower Energy Limited is made up of National Petroleum Company, which maintains its original stake of 7.5% and ENAP Refineries SA, with 92.5% share.

The agreement between ENAP and Amec plc-Foster Wheeler also includes a new operation and maintenance contract in force until 31 December 2017, so that this activity will be in charge of the team that is currently in complex operations.


Nigeria >>  7/1/2022 - ADM Energy PLC, a natural resources investing company, provides an update on the legal proceedings in respect of its interest in the Barracuda oil fie...
Norway >>  7/1/2022 - Rex International Holding Limited (“Rex International Holding”, “Rex” or the “Company”, and together with its subsidiaries, the “Group”), a technology...

Norway >>  7/1/2022 - The farmin agreement with OMV (Norge) AS ("OMV"), which was first announced on May 9, 2022, has now been concluded, according to Longboat Energy, an u...
Canada >>  6/30/2022 - STORAGEVAULT CANADA INC. (“StorageVault”) is pleased to announce that, further to its May 12, 2022 news release, it has completed the acquisition of 6...

Nigeria >>  6/30/2022 - Reference is made to previous stock exchange releases by PetroNor E&P ASA (“PetroNor") regarding the acquisition of Panoro Energy ASA’s (“Panoro”) int...
United States >>  6/30/2022 - U.S. Energy Corp. has entered into an agreement (the “Agreement”) to acquire operated oil and gas producing properties in an all-cash transaction (the...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.