According to reports in late-January 2018, subsidiary of Chilean state company ENAP, ENAP Sipetrol, has signed an agreement to acquire 100% interest in the Octans-Pegaso offshore block from Total.Â  A decree authorizing the acquisition of the area was already published in the Official Gazette of Santa Cruz Province in December 2017, pending on approval by the Argentinean Ministry of Energy and Mining. The concession is valid until September 2031, with option to extend it for another 10 years afterwards. Octans-Pegaso block covers 883 sq km offshore area in Austral Basin, and situated adjacent to Totalâs Cuenca Marina Austral 1 concession or CMA-1 (also known as Area-01 Cuenca Austral). CMA-1 area includes the Vega-Pleyade gas and condensate field that was put on stream in February 2016 and became the third largest gas producer in Argentina during that year.
Enap Sipetrol has acquired an offshore block, Octans Pegaso, on the Argentine continental shelf. It was purchased from the consortium made up of Total (35%), Wintershall (35%) & ENI (30%). 