Repsol will multiply sevenfold its production in Bolivias Caipipendi block
Press Release26/11/2009 00:00
Repsol's Chairman, Antonio Brufau, and Bolivia’s President, Evo Morales, reached an agreement to develop this block with resources of 3.7 Tcf (equivalent to three years of Spanish gas demand).
Antonio Brufau and Evo Morales emphasised the atmosphere of mutual understanding and cooperation in one of Latina America’s biggest energy projects.
Repsol will raise its gas production sevenfold to reach a daily production of 14 million cubic meters in 2013.
The company will invest 400 million euros in developing Caipipendi until 2013.
The Caipipendi block includes the Margarita and Huacaya fields, the latter being one of the five largest gas discoveries worldwide in 2008.