According to official reports in March 2019, Chilean state company ENAP has completed a 50% farm-out process to partner ConocoPhillips on the El Turbio Este block by the end of February 2019. The original agreement was reportedly signed in early-2018, although no other details are currently available. Most recently ENAP launched a 1,300 sq km 3D seismic acquisition project on the block in January 2019 as part of its work program with expected completion date in March 2019. Prior reports indicated that the work commitments also include an investment of USD 47 million over three years.  El Turbio Este block covers 3,230 sq km of land on the Santa Cruz Province side of Austral Basin.  The farm-in process marked ConocoPhillips first re-entry into Argentina since 2008, when the company sold its Neuquen Basin assets to Petrobas Energia. In addition, ENAP and ConocoPhillips have already partnered on the Chilean side of Austral Basin (locally known as Magallanes Basin) in the Coiron block since 2016.  Background Information    The Province of Santa Cruz granted the license for El Turbio Este block to ENAP in September 2017, following its Licitacion Publica Nacional e Internacional call for tenders on four inactive blocks in June 2017. The Tapi Aike, Paso Fuhr, El Turbio, and El Turbio Este blocks were offered then after their relinquishments to the province in 2015 due to lack of investments.
ENAP has completed a 50% farm-out process to partner ConocoPhillips on the El Turbio block