Major gas field discovered in Bolivia: president

[Judi Lynn]

Major gas field discovered in Bolivia: president
11:06, April 28, 2011

Bolivian President Evo Morales Wednesday announced the discovery of a new major natural gas field in the South-Eastern Santa Cruz department which increases Bolivia's national gas reserves by over 30 percent.

The discovery is the biggest of its kind in Bolivia in 10 years and was made through a joint operation by the French oil company Total and the Italian-Argentine company Tecpetrol.

Initial production from the new field is projected at 6.5 million cubic meters of gas per day while after five years potential production is seen at 18 million cubic meters per day, Morales said, congratulating the two oil companies for making this important discovery.

The Bolivian president said that based on this new discovery he wanted the oil companies to double their efforts and investments in order to make Bolivia one of the Latin American region's leading countries in the industrialization of gas and gas exports.

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