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    Bolivia Discovers Gas "Megafield"


The Latin American country is estimated to hold 10.7 trillion ft3 in proven gas reserves.

by: Joe Murphy

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Natural Gas & LNG News, Americas, Top Stories, Premium, Corporate, Exploration & Production, News By Country, Bolivia

Bolivia Discovers Gas "Megafield"

Bolivia has discovered a gas "megafield" some 1 trillion ft3 in size, its president Luis Arce announced at a press conference on December 24.

The find was made at the Boicobo Sur-x1 well at the Caipipendi field in the southern department of Chuquisaca. The project is operated by Spain's Repsol and also involves Anglo-Dutch Shell, Latin America-focused Pan American Energy and Bolivia's state-owned YPFB.

Drilling of the well started in October last year and has cost $74mn. The well has reached a depth of over 5,000 m, and should be brought on stream in December 2021, Arce said. The find is "a gift from mother nature to all Bolivians" and will make an "excellent contribution" to the Bolivian economy, he said.

Bolivia was independently certified to have 10.7 trillion ft3 of proven gas in 2018 by Canada's Sproule International. This was estimated to be enough to maintain existing production for nearly 15 years. The country has a further 12.5 trillion ft3 in probable and 14.7 trillion ft3 in possible reserves.

Bolivia not only covers its own gas needs but also exports some volumes to Argentina and Brazil.