(Energy Analytics Institute, Aaron Simonsky, 15.Jun.2018) – Chile’s ENAP plans investments of $354 million in a project located in the eastern mouth of the Strait of Magellan, on the Argentine side.
The company plans the investments in its Magallanes Area Incremental Project (PIAM) project, which has potential to substantially increase crude oil and natural gas production, ENAP reported in an official statement.
Despite severe weather conditions at sea in southern Argentina, the AM3 platform is already underway to produce 100% of the proposed volumes of oil and gas, becoming the last milestone of the PIAM of ENAP Sipetrol in that country.
With installation of the heliport, of approximately 60 tons, at 37 meters above sea level — the highest altitude of the expansion project was reached — the PIAM already has the entire infrastructure to start producing the incremental oil and gas in its entirety.
Natural gas production is expected to rise 60% to 4 million cubic meters per day (MMcm/d) from 2.4 MMcm/d, while associated oil production is expected to rise 43% to 1,000 cubic meters per day from 700 cubic meters per day currently.