Until recently, private companies like BP were unable to participate in the discovery and extraction of oil and natural gas reserves in Chile. Since this change, we’ve increased our workforce significantly over the last few years, and we’re looking to continue hiring talented people in the business of extracting oil and gas in the southernmost part of Chile. Our long-term aim is to lead the way in technologies, excellence and safety.
Our business in the region is operated in conjunction with our partner Pan American Energy LLC. We hold significant oil rights offshore, with exploration and production licences covering 1,806,000 acres. We have 13 offshore platforms, mostly in the Coirón Block in the Magallanes basin, and one onshore processing facility where we produce oil, gas and natural gas liquids.
Chile has 3.5 trillion cubic feet of proven natural gas reserves and respectably sized oil reserves, with new finds being discovered regularly. The Chilean government has committed the country to a journey towards self-sufficiency in energy, with the eventual goal of becoming a net exporter of oil and gas.
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