'Resources for the People': Bolivia to Open 17 Natural Gas Wells in 2019

Bolivia plans to drill 17 natural gas wells in the departments of Chuquisaca, Tarija, Santa Cruz, Pando, Beni and La Paz in 2019. The gas potential will be at least 13 trillion cubic feet (TCF).

RELATED:

Evo Morales Defends Indigenous People After Bolsonaro Ally's Racist Slur

The Minister of Hydrocarbons, Luis Alberto Sanchez announced Monday that the drilling will start in two weeks at the Ñancahuasu-X1 well, (Chuquisaca), and then more throughout the year, such as: the Florida X2, Yarara X1, Irenda and Cabezas (Santa Cruz), Margarita Profound, Boyuy X3, Aguarague Center X1, Iñiguazu X5, Domo Bear X1, Domo TRJ X2 (Tarija) wells.

Sanchez said that these actions are the result of four years of exploration with the use of modern prospecting and seismology techniques.

He added that they are about to conclude work on six other wells such as Chaco Este X1, Jaguar X6 and Boyuy X2 (Tarija), Caranda X1005 and Incahuasi 5 (Santa Cruz), and Sipotindi X1 (Chuquisaca), whose joint potential is between 4 and 5 TCF.

The vast majority of households and business across Latin America depend on 22 kg canisters of processed natural gas (LPG) to heat and fuel their homes and buildings, since there usually aren't direct-to-home public distribution pipelines.

Bolivia is expanding its natural gas market in Latin America by exporting to four countries, namely; Argentina, Brazil, Paraguay, and Peru.

President Evo Morales made the official announcement in the first week of January saying that his is the first Bolivian administration that has exported refined and contained gas, rather than importing.

Bolivia’s nationalized petroleum company, Petroleros of Bolivia (YPFB) already produces about 59 million cubic meters of gas per day from its reserves that number as much as 11 trillion cubic feet, according to its Ministry of Hydrocarbons, making it one of the largest natural gas reserves in the world.

Sanchez said that each TCF of gas represents an income of US$6 billion and can serve as resources for the people.