Enap Calls for Bids on Mercedes Exploratory Well

Chile's state oil firm Enap has called for bids on two contracts to drill an exploratory well in the Lago Mercedes area of Tierra del Fuego province in the country's southern Region XII and provide complementary services, the company said in two separate statements Sunday.

Bidding rules for both contracts are available through February 11 at a price of US$500 each, with a site visit for prospective companies scheduled for February 18. Bids for the complementary services contract will be received March 15, and bids for the drilling contract will be received March 16.

According to previous BNamericas reports, investment in the well will be some US$10mn. Enap will soon decide a location for the well after revising 3D seismic studies completed in 2004 by Veritas Geophysical Chile, newspaper Prensa Austral reported.

Natural gas discoveries have been made on the 312 sq. km. Lago Mercedes area in the past. But the new well may determine if commercially viable quantities can be found there, the paper reported.

Chilean environmental authority Conama approved Enap's plans to explore for oil and gas in Lago Mercedes last December.

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.

Our Privacy Pledge

Most Popular Articles
Related Articles

Brent Crude Oil : $51.78/BBL 0.77%
Light Crude Oil : $50.85/BBL 0.83%
Natural Gas : $2.99/MMBtu 4.77%
Updated in last 24 hours