About half the 2005 budget will go towards refining projects while the remainder will go towards exploration in southern Chile, Ecuador, Egypt, Iran and Yemen, he said. The budget is in line with Enap's investment plan for the 2002-2006 period, he added.
Chile currently consumes 220,000 barrels of oil a day (b/d) of which Enap produces 30,000b/d, or 15%, newspaper La Tercera reported.
Enap is planning to drill a well at its Magallanes exploration project mid-year and expects to announce the results around December, Enap's upstream business manager Manuel Sánchez told reporters. Magallanes is in the country's southern Region XII.
About Business News Americas: Business News Americas is a multilingual news and business information service that covers the most important original stories in 11 different business sectors throughout Latin America everyday. Visit BNamericas to access our real-time news reports, 7-year archive, Fact File company database, and latest research reports.
Click here for a Free two week trial to our Latin America Oil & Gas information service.
Most Popular Articles