Inspenet, May 3, 2023
Bolivia has announced the discovery of a new oil and gas well in the department of Santa Cruz, which will increase its production of natural gas by 1.4 million ft 3 /day and 115 barrels per day of condensate. Bolivian President Luis Arce reported the discovery of the Yope-X1 (YOP-X1) well in the Yapacaní region, Santa Cruz, through his Twitter account.
“The discovery of the Yope-X1 Well in Yapacaní, Santa Cruz, will allow a gas production of more than 1.4 million cubic feet/day and 115 barrels/day of condensate. This is the result of a responsible exploration process” , reported Arce, via Twitter.
The discovery of the Yope-X1 well in Bolivia promises a significant increase in oil and gas production
With a depth greater than 3,000 meters, the drilling of the well is the result of a “responsible exploration process,” according to President Arce. The additional gas production will help boost Bolivia’s efforts to increase its hydrocarbon reserves.
In an effort to achieve this objective, Bolivia has allocated a budget of more than 500 million dollars for 11 exploratory projects in the departments of La Paz, Tarija, Santa Cruz and Chuquisaca. Currently, the country produces close to 40 MMm3d of natural gas, of which 17 MMm3d are exported to Brazil, 10 MMm3d to the Argentine market, and 12.5 MMm3d for domestic consumption.
Bolivia is one of the main exporters of natural gas in Latin America and the Caribbean, along with Colombia, Argentina, Trinidad and Tobago and Mexico. The addition of production from the Yope-X1 well will therefore help consolidate its position in the regional market and diversify its economy.
Inspenet, May 3, 2023
Source and internal photo : https://sputniknews.lat/20230502/bolivia-descubre-nuevo-pozo-que-aumentara-su-produccion-de-gas-y-crudo–video-1138929612.html
Cover photo : ShutterStock
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