Magallanes Region in the extreme south of Chile is taking advantage of its weather conditions and will convert its wind gusts into energy. With some six million dollars from the National Fund for Regional Development and in coordination with Chilean government owned oil company Enap, a wind farm will be installed in Cabo Negro during the second half of the year.
Chile anticipates a 30% increase in cruise activity in the extreme south of the country, mainly Punta Arenas and Puerto Natales, announced Lorena Araya, head of Magallanes region National Tourism Service, Sernatur.
Employment in Magallanes Region, extreme south of Chile remains strong according to the latest data released by the Chilean stats office, INE, which covers the fourth quarter of 2015 (October/December). While the national unemployment average stands at 5.8%, Magallanes figures with 2.6 percentage points below.
Magallanes region in the extreme south of Chile suffered an abrupt and unexpected drop in economic activity during the second quarter of this year according to the latest release from the country's stats office, INE.
Oil company GeoPark which operates in Magallanes, extreme south of Chile, reiterated its commitment and long term investment in the region but also announced the redundancy of 30 staff, first time in twelve years, because of a restructuring of the company to the new global oil industry scenario.
Chile’s government owned oil and gas company ENAP presented this week the environmental impact study for an exploratory drilling round in the Province of Tierra del Fuego which includes fifteen wells and will demand an investment of 30 million dollars.
Argentina announced its full support to make the tip of the South American continent ‘a free movement of peoples’ area’ that would include Chile’s Magallanes region in the extreme south of the country and Tierra del Fuego, shared by the neighbouring countries.
Almost 300.000 sheep and 9.200 cattle are exposed to serious life risk following heavy snow storms which covered the Magallanes Region in the extreme south of Chile with a white blanket anywhere between 70 and 150 centimetres thick.
Exports from Magallanes region in the extreme south of Chile totalled 148 million dollars during the first quarter of the year which is 10.5% higher than a year ago (134 million dollars), according to Chile’s national Statistics Office.
In the coming three years hydrocarbons exploration and exploitation in the extreme south of Chile will receive investment equivalent to over 400 million US dollars making Punta Arenas a hub for the regional oil industry.