June 24, 2013 (TSR-Xinhua) – A natural gas deposit has been discovered in Chile’s southernmost Magallanes region, oil company GeoPark announced Friday.
The new deposit is located in the Yagan Norte field of the Fell block of Magallanes, global oil exploration and exploitation firm GeoPark Holdings Limited said in a press release.
GeoPark Executive Director James F. Park said the company has carried out production test trials and is able to generate approximately 3.3 million standard cubic feet (93,400 cubic meters) of gas per day. More tests are still needed to determine the existence of a stabilized gas flow.
Park said this new outcome confirms the gas potential in southern Chile and the opportunity to develop a sustainable gas business that can complement oil production in the country.