In 2017, our presence
in Bolivia was focused
on our Upstream business
- Production / development
As of December 31st, 2017, our assets in Bolivia included mineral rights to 32 blocks located in the Beni, Pie de Monte, Subandino Sur, and Subandino Norte Basins; seven exploration blocks — with a net surface of 2,176 km2 — and 25 production/development blocks, with a net area of 1,555 km2.
Net production for the year stood at 2.7 mbbl of oil, including condensates and liquids separated from natural gas and at 67.8 bscf of natural gas. The total equivalent net production was 14.8 mboe (40,504 boe/d) and was mainly concentrated in the Margarita-Huacaya block (operated by Repsol), San Alberto and San Antonio (stake held by Andina and operated by Petrobras), and Yapacani and Rio Grande (operated by Andina, where Repsol holds a 48.33% stake).
- In April, the PTJ-WX1 exploratory probe located in the Patujú block in Bolivia (48.33% Repsol) was completed with positive results.
- In November, Bolivian President Evo Morales and Repsol Chairman Antonio Brufau signed the awarding of the Iñiguazú exploratory block, located in the south of the country, where the main gas production fields in Bolivia are located. The block has a surface area of 644 km2, is located in the department of Tarija and borders the Caipipendi Area (Margarita-Huacaya) operated by Repsol. The block is held by a consortium made up of Repsol, which will be the operating company, YPFB Andina, Shell, and PAE. On June 16th, the principle of an agreement between the Government of Bolivia and Repsol for entering into the Iñiguazu exploration block was announced.
- The Margarita-Huacaya field in Bolivia maintained, throughout the year, an average daily production of around 17 million cubic meters per day (mm3/d) of gas. The first phrase of this important Repsol gas project entered into production in May 2012, with total gas production going from 3 to 9 mm3/d in 2012. The second phase started in October 2013,with gas-processing capacity increasing to 15 mm3d. In 2014, the third phase was approved, with the goal of reaching a production of 17–18 mm3/d in early 2016, an objective reached in February 2015. The project is operated by Repsol, with a stake of 37.5%, and its partners are Shell/BG (37.5%), and PAE E&P (25%).
Net surface area
of mineral rights
Information on net production, net proved reserves, and mineral rights
as of December 31st, 2017