LA PAZ (awp/afp) – Bolivian President Luis Arce announced on Saturday the discovery of new reserves in a large natural gas field, which will yield more than 260 million dollars a year once exploited.
The discovery was made in a field operated by the Spanish company Repsol, in the Margarita-Huacaya field, one of the main natural gas fields in the country, in the southern regions of Chuquisaca and Tarija.
Natural gas is one of the country’s main exports.
The Bolivian state oil company YPFB said in a statement that “the production of this well will generate revenues for the State (…) of more than 260 million dollars per year”.
In 2021, Bolivia’s exports reached $10.9 billion, 59% more than the previous year.
Of this sum, 2.3 billion are hydrocarbons and 5.8 billion minerals, according to the Bolivian Institute of Foreign Trade.
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