Spain’s Repsol has signed an agreement with Bolivian state-owned YPFB to explore the Iniguazu block in the gas-rich southern region of Tarija. Initial investment in the 1.2 trillion ft~3 (34bn m~3) block could total around $500mn, President Evo Morales says, while output could start in 2020. YPFB holds 60pc in Iniguazu, while Repsol will operate the block with 40pc. Iniguazu is next to the Repsol-operated Caipipendi block, which encompasses the prolific Margarita-Huacaya field. Bolivia recently extended Repsol’s Caipipendi contract for 15 years to 2046. Margarita-Huacaya should produce around 20mn m~3/d of gas next year, Repsol says.
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