The President of the Plurinational State of Bolivia, Evo Morales, and Repsol Chairman Antonio Brufau led the signing ceremony of an extension of the production contract in the Caipipendi area, in the south of Bolivia.

The operating contract for Caipipendi is extended by 15 years, until 2046, under a law aimed at promoting investment in the exploration and production of hydrocarbons (Ley de Promoción para la Inversión en Exploración y Explotación Hidrocarburífera.)

The Caipipendi consortium is made up of Repsol, which is the operator and holds 37.5%, as well as Shell (37.5%) and PAE (25%). The operation contract is within the framework agreed with YPFB, the state-owned oil and gas company of Bolivia.

The contract marks a renewal by Repsol and its partners of their commitment to the country through investment, of 500 million dollars over the next five years, aimed at confirming the presence of gas and accelerating the production of hydrocarbons in the prospects that have already been identified in the area.

The new plans involve the implementation of an exploration, development and production program in Boyuy and South Boicobo, to the south and north of Caipipendi, over the next five years.

If the exploration campaigns are successful, in the short term it will be possible to add gas to the country’s supply through processing in existing facilities that currently have available capacity.

Potential in the Boyuy and Boicobo Sur prospects was identified through data analyses from the 2D and 3D seismic surveys carried out between 2013 and 2015. Subsequent analysis by Repsol’s technicians has established that there may be significant resources in those areas, which could reach 3 Tcf (trillion cubic feet.)

Repsol in Bolivia

Repsol holds rights to a total of 32 blocks in Bolivia: seven of which are exploration blocks and 25 of which are under development or in production. In 2015, total net output reached 15.3 million barrels of oil equivalent, mainly from the Margarita-Huacaya field.

Repsol is executing the third phase of the Margarita-Huacaya project and currently has capacity to process 19 million cubic meters per day (Mm³/d), above its commitment of 18 Mm³/d.

The Caipipendi contract is located in the south of Bolivia, in the regions of Tarija and Chuquisaca.

The Margarita and Huacaya fields together make up a production area of 123,000 hectares, where nine wells exist to date. The depth of the wells, which were drilled between 1998 and 2016, ranges between 4,000 and 6,000 meters. The Margarita plant began operations in 2004.

About Repsol

Repsol is an integrated global energy company with vast sector experience. It carries out Upstream and Downstream activities throughout the entire world.