Chile's Enap Argentine Operations Valued At $300 Million - Report
17 4월 2012 - 11:51PM
Dow Jones News
In light of Argentina's announcement to nationalize oil and gas
company YPF SA (YPF), which raised other players' concerns, Chile's
state-owned oil and gas company Empresa Nacional del Petroleo SA's,
or ENAP, calculations of its Argentine operations were valued at
$300 million, Diario Financiero reported Tuesday without citing
sources.
On Monday, Argentina said it will expropriate Spanish Repsol YPF
SA's (REP.MC) main unit and the largest oil and gas company in the
region, YPF, raising concerns in the oil industry and among other
companies with operations in Argentina.
In the nationalization process, Argentina would take 51% of YPF
from Repsol.
Chile's Enap international unit, Enap Sipetrol Argentina, has
operations in Argentina which, in case of an eventual
expropriation, would cost Enap some $300 million, Diario Financiero
reported.
In March, Enap lost a concession it holds with YPF in the
province of Chubut. At the moment, the company said it was
evaluating the effects of the Chubut decision and added that it had
invested $47 million in the field, as of Sept. 30, 2011.
On top of the revoked Canadon Perdido-Campamento concession,
ENAP Sipetrol Argentina holds another three southern Argentina
concessions, which it is currently exploring.
-By Graciela Ibanez, Dow Jones Newswires; 56-2-715-8929;
graciela.ibanez@dowjones.com
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