Currently, GeoPark has one block, which conducts production, and two blocks, which are being explored in Chile.

LGI has secured the Fell block, which is currently operating for production, and the Tranquilo and Otway blocks that are being explored.

The Fell block has been operating since 2006 with a daily oil and gas production capacity of 7,000 barrels.

According to LGI, this is the first time a Korean company secures oil blocks in Chile.

LGI is the energy, natural resource and trading affiliate of Korean company LG Corporation.