Enap CEO Calls for Reform of Operating Contract Legislation

Chilean state oil company Enap's CEO Enrique Davila believes the country should improve the regulatory framework for special operations contracts (CEOPs) to encourage investment in hydrocarbons production.

Davila made the announcement to the senate's mining and energy commission after being invited to give his opinion on the planned change to the hydrocarbons law, according to an Enap statement.

"There are no obstacles for private companies, but [the senators] could speed up decisions with respect to exploration investments by shortening the terms," Davila said.

Senator Ricardo Nunez of the socialist party voiced his opposition to reforms of Chile's hydrocarbons policy, saying "it contains modifications that could open a road to Enap privatization."

Senator Baldo Prokurica of the center-right Renovacion Nacional party agreed with Davila.

"Chile needs to become independent in terms of energy and that isn't going to happen with current legislation," he said.

The senator said private companies complain it takes 14 months on average to establish CEOPs, which allow them to explore for hydrocarbons.

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