Bolivia estimates gas reserves will last beyond 2032

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Bolivia’s current gas reserves are enough to cover the domestic demand, as well as shipments to Brazil and Argentina, beyond 2032, and the ongoing certification work is expected to establish reserves of over 10 trillion cubic feet (tcf), the country’s minister of hydrocarbons Luis Alberto Sanchez said.

In 2006, gas reserves stood at 9.9 tcf and newly discovered reserves have compensated for the amount consumed over the following 11 years, around 6 tcf. At the same time, state-owned company Yacimiento Petroliferos Fiscales Bolivianos (YPFB) approved the budget and the works to certify the hydrocarbon potential is in progress.

“We estimate that (the reserves) will stand above 10 tcf, meaning that we have more than we have been given and we produce double of what we have been given,” he explained with regards to the rise in gas output from 30 million cubic meters to 60 million cubic meters.

The minister referred to the positive outcome of the ongoing exploration work in areas such as Boyuy, Rio Grande, Caranda Profundo, Takovo, Bulo Bulo bloque vago, Huacareta, Incahuasi 5, and Iñiguazu.

“With all this aggressive E&P campaign we will ensure the domestic market and, essentially, the foreign market. With our current reserves we guarantee supply for the Brazilian and Argentine market, in addition to the domestic market, beyond 2032,” he affirmed in an interview with state-controlled radio station Patria Nueva. Brazil and Argentina are Bolivia’s two strategic energy partners.

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