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New Zealand oil explorer Greymouth Petroleum and other foreign firms that won bids to explore for crude oil and gas in the southernmost regions of Chile will begin drilling in August, says Mining Minister Santiago Gonzalez.
Greymouth and the other explorers - Apache Canada, Panamerican Energy and Canadian Methanex Corp - have signed special operating contracts, known as CEOPs, with the Chilean government, CNNMoney reported. The CEOPs will have a maximum 35-year term.
