In 2016, our presence in Bolivia was focused on our Upstream business.
Net surface area
of mineral rights
barrels of oil
equivalent per day
As of December 31st, 2016, we had mineral rights in Bolivia to 31 blocks located in the Beni, Pie de Monte, Subandino Sur, and Subandino Norte basins: Six exploration blocks with a net surface area of 2,294 km2 and 26 production/development blocks with a net surface area of 1,552 km2.
Net production for the year was 3.3 Mbbl of oil, including natural gas liquids and condensates, and 84.8 bscf of natural gas. The total equivalent net production was 18.4 Mboe (50,246 boe/d) and was mainly concentrated in the Margarita-Huacaya block (operated by Repsol), the San Alberto and San Antonio fields (stake held by Andina and operated by Petrobras), and Yapacani and Rio Grande (operated by Andina, where Repsol holds a 48.33% stake).
In March 2016, well MGR-7ST in the Margarita-Huacaya field started production of the H1B reservoir, with the early commissioning of the collection pipeline. As a result, the Margarita-Huacaya field in Bolivia reached production of 20 million cubic meters per day (Mm3 /d) of gas, setting a new production record. As part of the development plan for maintaining the plateau production rate, in October, drilling began on the Huacaya-2 development well which is expected to begin production in the first half of 2017, once the production tests are carried out upon its completion and construction of the surface facilities is completed (collection lines, etc.).
The first phase of this project, which is key for Repsol, started production in May 2012, with total gas production going from 3–9 Mm3 d in 2012. The second phase was launched in October 2013, increasing the capacity for gas processing to 15 Mm3 d. In 2014, the third phase was approved in order to reach a production capacity of 18 Mm3 d by the start of 2016, which was achieved in February 2015. The project is operated by Repsol with a 37.5% interest, alongside partners Shell/BG (37.5%) and PAE E&P (25%).
- On October 27th, the operating agreement for Caipipendi (site of the Margarita-Huacaya field) was extended for an additional 15 years, until 2046. The new plans include an exploration, development, and exploitation program in Boyuy and Boicobo Sur, to the north and south of Caipipendi.
- On September 30th, total production at the Margarita-Huacaya field since it began reached 1 trillion cubic feet.
Information on net production, net proved reserves, and mineral rights as of December 31st, 2016