Exploration well spudded in Bolivia
Exploratory drilling has begun at the Boyuy prospect, south of the Margarita field (see map below), as part of the hydrocarbon-rich Caipipendi block in southern Bolivia's Tarija department.
The work is targeting estimated natural gas resources of 3Tf3 with initial investment of US$120mn while the total project cost tops US$600mn, the hydrocarbons ministry said in a statement.
Work to reach 6,500m will take around a year with first results expected in December. Expected first phase production of 3M-10Mm3/d will be processed at the San Alberto plant.
Spain's Repsol holds a 37.5% operating stake in the Caipipendi consortium. BG has a 37.5% stake and Argentina's Pan American Energy 25%.
Pictured: Hydrocarbons minister Luis Alberto Sánchez visits Boyuy well (CREDIT: Hydrocarbons ministry)
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