Repsol announces new Bolivian gas find

A local subsidiary of Spanish exploration and production company Repsol has made a new natural gas discovery in Bolivia, the company announced on Saturday.

The find was made at well 7ST in the onshore Margarita-Huacaya field. Repsol Bolivia did not reveal the size of the discovery.

Development is already well under way at Margarita-Huacaya. The first phase of the development plan for the field, including a gas processing plant, fluid collection system and gas pipeline, went on stream in 2012. The second phase became operational in 2013, while the third phase is slated for completion in 2016 and expected to bring production at the field to 18 mcm (636 mcf) per day.

The Margarita-Huacaya field is part of the Caipipendi block. The Caipipendi Consortium, which manages the block, is operated by Repsol Bolivia with a 37.5-percent stake, while BG Bolivia, the local subsidiary of the UK’s BG Group also holds a 37.5-percent interest and 25 percent is owned by PAE E&P Bolivia, the Bolivian unit of Argentina-headquartered Pan American Energy.