SunSirs: Bolivia Discovers Large Natural Gas Fields

https://www.chemnet.com   Jul 18,2024 SunSirs

According to a report by the "Rationality Daily" on July 15th, President Arce announced that the National Petroleum and Natural Gas Company (YPFB) of Bolivia has discovered 1.7 trillion cubic feet of natural gas reserves in the Mayaya-X1 gas field, marking the region as the third largest gas field in Bolivia and the first major natural gas production site in La Paz province.

Mayaya-X1 gas field has become the most significant natural gas reserve discovery since 2005. According to preliminary assessments, the peak production of up to 10 million cubic meters of natural gas and 500 to 1,000 barrels of crude oil will bring approximately 6.8 billion US dollars in revenue to Bolivia. The National Oil and Gas Company of Bolivia launched drilling operations for the gas field on November 25, 2022, with an investment of 44 million US dollars.

Dol Kato, President of Bolivia National Oil and Gas Company, pointed out that the preliminary plan is to complete the drilling and pipeline installation of three wells, and it is expected to obtain the first batch of natural gas production within three years.

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