MercoPress. South Atlantic News Agency

YPFB finds new gas reservoir

“These results will allow us to classify it as the discoverer of a new hydrocarbon field with estimated resources of 0.7 trillion cubic feet of gas and 52 million barrels of liquids,” Arce said

Bolivian authorities have reported that the state-run oil company Yacimientos Petrolíferos Fiscales Bolivianos (YPFB) had discovered a new gas field in the Okinawa area after recent studies in the Remanso-X1 (RMS-X1) well. The new reservoir will generate approximately US$ 5 billion in gas, it was explained. It will also contribute to savings in fuel purchases of US$1 billion, according to YPFB.

”The well is in condensate production tests (of 48° API). These results will allow us to classify it as the discoverer of a new hydrocarbon field with estimated resources of 0.7 trillion cubic feet of gas and 52 million barrels of liquids,“ President Luis Arce Catacora said Sunday during his message marking the 198th anniversary of the foundation of Bolivia. ”The Yarará-X2 well, currently in production tests, will increase oil production in the field by more than 700 barrels per day for the country thanks to the Yarará field,“ Arce added.

”We would be in the presence of a new field in Bolivia, this discovery opens a new development horizon in the short and medium term, which will make it possible to incorporate reserves and increase liquids production and thus reduce fuel imports under the line of import substitution,” said YPFB's President Armin Dorgathen Tapia aboout the discovery in the Remanso geological structure in the Chaco-Benian Plain. The hydrocarbon resources in the Remanso area are estimated at 0.7 trillion cubic feet of gas and 52 million barrels of liquids.

On July 7, 2023, operations began in the Okinawa contract area, located in the Warnes province of the department of Santa Cruz. The activities included the maintenance of roads to enter the plateau and access to the RMS-X1 well, in addition to the habilitation of the production head and the taking of logs in order to evaluate the integrity of the well.

YPFB technicians found positive indications of the presence of hydrocarbons with original conditions. In this scenario, teams were deployed to evaluate the productive potential of the RMS-X1 well. Since August 1, production tests have been carried out with positive results, registering a condensate production of 45 barrels per day in the sandstones of the Los Monos formation.

The RMS-X1 well was first drilled in 1984 but was later closed. As part of the Upstream Reactivation Plan, operations were resumed under the current management, in a move to reduce the deficit in liquid imports, in line with the Fuel Substitution Plan.