Wintershall and GeoPark each have a 42% stake in the consortium, while Methanex holds the remaining 16%.
The consortium was awarded the license for the Otway Block, which has a surface area of 6,000sqkm, in the first international bidding round for exploration concessions by the Chilean government. At least $30 million will be invested in the exploration of this block.
Ties Tiessen, member of the board of executive directors of Wintershall Holding responsible for production, said: With the commencement of exploration activities in Chile we are expanding our portfolio in South America, which is one of our core regions. We already have the first geological and geophysical data for the block. We will carefully analyze this data and conduct 2D and 3D seismic surveys to identify drilling projects.
