Enap Sipetrol Argentina S.A. (Enap Sipetrol Argentina)

Description:

Enap Sipetrol Argentina is a subsidiary of Enap Sipetrol, a company focused on oil and gas exploration and production which operates as the international arm of Chile's state-owned hydrocarbons company, Enap. Enap Sipetrol Argentina is the major offshore operator in the country with six oil and gas producing platforms built, installed and operated by itself and located at the Eastern Entrance of the Strait of Magellan. Together with Argentina state-owned company YPF, it was granted an extension in 2013 for the hydrocarbon production concession in the Campamento Central - Cañadón Perdido areas for an additional 10 year-term. Both companies were granted an exploration permit for the Cuenca Austral Marina 2/A SUR area located in Tierra del Fuego for an initial 25 year-term until 2028, which can be extended for an additional 10 year-term. It is also in charge of operation in the Cuenca Austral Marina 1 area, in the Atlantic Ocean under a joint venture contract with YPF and Energía Argentina (Enarsa) until 2018, that can be extended for an additional 5 year-term. In 2015 it was granted an extension until 2026 of the hydrocarbon production concession in Pampa del Castillo-La Guitarra, transferred by Pecom Energía to Enap Sipetrol Argentina. In 2016, it took over Arpetrol Argentina in a US$9mn deal, which is holder of the Faro Vírgenes production concession located in Magallanes region (XII). The firm has a natural gas treatment and compression facility located in the Santa Cruz province, which processes Magallanes field entire production. Founded in 1997, the company is headquartered in Buenos Aires.