Chile to invest in Argentina's Magallanes field

Oct 30, 2007 01:00 AM

Chile's state-run oil company Enap Sipetrol plans to invest some $ 70 mm to restart oil and gas production in its offshore area in Argentina's southern Cuenca Austral in early 2008.
The production will begin once an underwater pipeline and some other installation work is finished, Enap Sipetrol's Argentina unit said.

Enap Sipetrol Argentina general manager Salvador Harambour Palma was cited as saying that the Magallanes field is expected to produce about 1,000 cmpd of oil and 2.7 mm cmpd of natural gas.
The 21-km pipeline will run between two platforms and an onshore site in the southern Argentine province of Santa Cruz.

Source: Dow Jones & Company
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