Last year, ENAP invited international oil firms to become partners with it for hydrocarbon exploration on five blocks located in Tierra del Fuego.
GeoPark was selected to become ENAP’s partner on the Campanario, Flamenco and Isla Norte blocks, with 50% participation for the first two and a 60% participation in the last block.
The new blocks, which cover an area of about 414,400 acres, will be operated by GeoPark.
GeoPark and ENAP have jointly requested from the state of Chile a special petroleum operations contract with respect to each of these blocks.
GeoPark said it will invest a minimum of $101m over three years and execute an exploration and development program on the new blocks.
