Chile Offers 10 Blocks For Exploration

Chile has launched its first international tender for oil and gas exploration in the Magallanes basin in the south of the country. The government is offering ten oil and gas blocks covering 32,356sq km both on- and offshore in a bid to boost exploration and production (E&P) activity and reduce the country's dependence on oil and gas imports. The licensing round is also designed to attract around US$200mn in international investment, as well as to diversify the number of energy companies operating in Chile and to introduce new E&P technologies to the country's hydrocarbons industry.

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