Bolivia announces historic investment in hydrocarbon exploration | News

The president of Yacimientos Petrolíferos Fiscales Bolivianos (YPFB), Armin Dorgathen, informed this Wednesday that this state company is preparing one of the largest historical investments in hydrocarbon exploration to increase gas reserves.

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“Obviously it is risky work, the entire oil industry is risky work, drilling wells is risky work, but if you don’t do it, if you don’t drill, you don’t get results,” he acknowledged.

He also explained that the company works on exploration in different ways depending on the number of deposits, the area, the terrain, among other aspects.

Referring to the South Sub-Andean basin, with an important field for exploitation, he specified that some ten drillings are planned between 2023 and 2025.

“We are going to be able to consolidate this basin as a mature basin, with the discoveries or not that exist in this basin, we are going to have those results,” said the manager.

Likewise, he assured that despite the decrease in gas production after 2015, this trend will be reversed through further exploration of deposits.

In this sense, the president of YPFB insisted that, despite the high geological risk, it is necessary to run it and be careful not to fail, but if reserves are found, the prize will be great.

It is worth mentioning that according to the ranking of the international magazine América Economía published the day before, the Bolivian company is the second best in terms of profit growth with 497 percent, while it also registered an increase in sales.

Disclaimer: Via Telesur – Translated by RJ983

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