The company will drill two exploratory wells on its Pica Norte block in the Tamarugal basin and possibly a third well depending on results, according to Conama's environmental impact evaluation system website.
The wells will be drilled to a depth of approximately 4,200m and each will require four months work.
Tamarugal is similar to Argentina's hydrocarbons-rich Neuquen basin. The two objective sandstone horizons of the Pica Norte block are at depths of some 4,300ft (1,300m) and 7,000ft, BNamericas reported previously.
Although Chile's mines and energy minister awarded March the exploration and development rights for the Pica Norte and Pica Sur blocks in June 2006, the company is still negotiating 35-year special operating contracts for the blocks, according to March's website.
Visit BNamericas to access our real-time news reports, 10-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
From the Career Center
Jobs that may interest you