Bolivia: 3 new gas fields discovered, 40% increase in country’s reserves expected

Three new gas fields (Boyuy, Boicobo and Ipaguazu) have been discovered in the Department of Tarijas in Bolivia. They are expected to increase Bolivia’s existing reserves by 40% according to initial estimates. Production at the new sites could even exceed the potential of Margarita, which is the biggest field in production at the moment, and bring in a net profit of over 1.3 billion dollars as of 2019. Bolivia’s Minister for Oil and Gas said that work to exploit the new Bouyi field, the biggest of the finds, will begin in 2017, with an investment of 92 million dollars. The other fields, closer to Margarita, will not require such large investments as they will be able to rely on existing infrastructure.