PRESS RELEASE

New discovery of gas and oil in Bolivia

By
Sunday, January 6, 2019

The Chaco Este X-1 exploratory project (CHE-X1), located in the province of Gran Chaco, municipality of Villamontes, confirmed the existence of shallow gas resources of approximately 0.2 TCF and 11 million barrels of liquids in the Chorro, Tupambi formations and Iquiri.

The announcement was made by President Evo Morales, the Minister of Hydrocarbons, Luis Alberto Sánchez, the president of YPFB Corporación, Óscar Barriga, the general manager of Vintage Petroleum Boliviana Ltd., Jorge Margtinioli, among other national and local authorities.

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On October 25, the drilling activities for the CHE-X1 well began, with an estimated investment of US $ 11 million, until the conclusion of the scheduled exploration operations.

According to the Vintage Company projection, 11 development wells will be drilled from the first quarter of 2019, of which five are gas and six are oil. The total investment will be $ us107 million. The maximum production of this field will be 35 MMcfd of gas and 5,000 BPD of oil.

Finally, it was announced that thanks to these discoveries, until the end of March 2019, three new contracts for the exploration of shallow and deep gas and oil resources in the Carandaiti, Sayurenda and Yuarenda areas would be signed, with production beginning in the second half of the year. of 2019.

This Ministry of Hydrocarbons release was published using an automatic translation system.