Bolivia President Evo Morales and Repsol President Antonio Brufau agreed that the exploration of the Iniguazu field will be carried out by a consortium led by Repsol.
After the meeting, the agreement was signed by the consortium participating in the project, made up of Repsol E&P Bolivia S.A. (15% and operator), YPFB Andina (46.555%), YPFB Chaco (13.445%), Shell (15%) and PAE (10%).
At the signing, Evo Morales estimated that “around 900 million dollars of investment are necessary” for the operation to be successful. For his part, Antonio Brufau highlighted the commitment of the Spanish company to continue developing its activity in Bolivia.
The signing occurred during the Gas Exporting Countries Forum that is taking place this week in Santa Cruz de la Sierra.
The Iniguazublock covers 644 km2 and is located next to the Caipipendi area, where Repsol already operates the Margarita-Huacaya field—the largest in Bolivia, producing 19 million cubic meters of gas per day.
Repsol also holds the mineral rights for a total of 31 blocks in Bolivia: 6 for exploration and 25 that are in the development and production phase. In 2016, the group's total net gas production in the country amounted to 2.39 billion cubic meters, mainly at the Margarita-Huacaya field operated by Repsol.