PetroMagallanes formed in November 2007 after the Chilean international tender round was finalised by the Chilean Government.

PetroMagallanes holds four blocks, involving a contiguous 9,000sqm area in and around Straits of Magellan and Tierra del Fuego.

PetroMagallanes holds the second largest exploration and production area in Chile.          

Recently flowed first petroleum from Clarencia-1A, Rio del Oro-1A and Josefina Oeste-1 wells.