Tuesday, September 26, 2023
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Bolivia discovers new hydrocarbon deposit, says president

La Paz, May 2 (Prensa Latina) Bolivian President Luis Arce confirmed Monday in a speech the discovery in the department of Santa Cruz of a new hydrocarbon well as part of the natural resources of its industrialization policy.

“Thanks to those exploration processes of the national government that we started in 2020, we announce to the Bolivian people that we have discovered the YOPE-X1 well in the municipality of Yapacani in Santa Cruz,” he said when speaking in Plaza San Francisco on the occasion of Labor Day .

Arce explained before a massive demonstration on the occasion of May 1 that the discovery of this hydrocarbon well confirms that the country continues with the economic model based on the exploitation and industrialization of natural resources.

He indicated that Bolivia “has everything what it lacks and is dreamed of” by each of its inhabitants will be achieved by the national government in unity with the workers.

The dignitary reaffirmed that his government is working hard to rebuild the Bolivian economy and form “that broad, wide and diversified economic base”, necessary to not depend on a single product.

“However, we are going to continue and we are doing it based on our hydrocarbons sector,” Arce clarified.

The day before, the president of the state-owned Yacimientos Petrolíferos Fiscales Bolivianos (YPFB), Armin Dorgathen, emphasized that the company will invest 690 million dollars for exploration, in search of obtaining more gas deposits to market.

The corporation scheduled for this year the execution of 11 exploratory projects that cover the departments of La Paz, Tarija, Santa Cruz and Chuquisaca.

In these objectives, the operators will invest 669 million dollars this year, of which 48 percent corresponds to exploration activity with the perspective of replenishing and increasing hydrocarbon reserves.

He informed that YPFB Headquarters will allocate 49 percent of the total amount programmed, equivalent to 326.85 million dollars, in that direction.

The affiliated and subsidiary companies, meanwhile, have a programmed investment amount of 277.57 million dollars, a figure that represents 41 percent, and the operating companies of subscribed service contracts will invest the remaining 10 percent, equivalent to 64.58 million US currency.

YPFB planned to invest 323.72 million dollars in exploration, 139.78 million dollars in exploitation, and 74.05 million dollars in natural gas distribution through networks, it was reported.

Transportation activities, industrialization plants, refining, storage, marketing and other investments receive significant resources aimed at supplying fuel to the domestic and foreign markets, reported that corporation.


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