The well is in Chiripia Oeste, the eastern portion of the Tapi Aike 3D survey area, and will be re-named Campo La Mata x-1 (CLM x-1).
"All permits to enable operations to commence have been received and construction works are now being finalised on the well pad and access roads to the drill site," said today's statement.
The primary target of CLM x-1 is a stratigraphic trap that lies in the Magallanes Formation (Magallanes 20" at an approximate depth of 2,000 metres.
A secondary horizon in the Anita Formation (D3) and a shallower secondary interval (Magallanes 60) will also be targeted by the well.
Spudding is expected in December with the well to be drilled in two vertical sections.