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Bolivia’s Fiscal Oil Fields finds ‘sea of gas’

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Christian Fernsby ▼ | March 24, 2019
Bolivian President Evo Morales confirmed that a new natural gas reserve was found by the country’s state enterprise Bolivian Fiscal Oil Fields (YPFB).
YPFB
LatAm   The new gas reserves were found in the municipality of Carapari
Since the country’s natural resources, such as gas, have been nationalized, profits from the new gas reserve will remain in the country.

The new gas reserves were found in the municipality of Carapari, located in the southern department of Tarija, home to much of Bolivia’s natural gas and oil reserves. Hydrocarbons Minister Luis Alberto Sanchez called it a "sea of gas."

The well is the deepest in South America, standing at 7,640 metres deep. The investment for the drilling came to US$133 millon and was provided by the YPFB and some private investors. As the oil well is property of YPFB, a nationalized company, the profits are state revenue.


 

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