President of YPFB inspects operations of the formation tests at the Mayaya Centro-X1 IE well

YPFB Statement

Santa Cruz, May 1, 2024 (AN-YPFB) X1 IE), located in the Lliquimuni Non-Traditional Area of the Northern Subandean Zone of Bolivia.

“We have carried out the inspection of the formation testing operations, after having completed the drilling of this well. We are looking for a new hydrocarbon basin,” said Dorgathen Tapia after visiting the MYC-X1 IE well, together with the national manager of Exploration and Exploitation of YPFB, Fernando Arteaga.

Hydrocarbon exploration activities constitute a priority of the National Government of President Luis Arce Catacora, as they seek to replenish and increase proven reserves in the medium and long term.

Drilling activities provided an understanding of the subsurface geology in this non-traditional area. As operator of this project, YPFB Headquarters, through its National Exploration and Exploitation Management, invested approximately USD 76.8 million.

The state oil company drilled the first deep well in a Non-Traditional Area that has an approximate area of 6750 km2.

The Petrex PTX-27 drilling rig, whose power is 3000 HP (Horsepower), began operations on November 25, 2022. The vertical drilling of the well reached a final depth of 6000 meters in 436 days without accidents and operational problems .

The location of the MYC-X1 IE well is located in the Alto Beni municipality, belonging to the Caranavi province of the department of La Paz.

The exploratory project is framed in the strategic objectives of YPFB and the Upstream Reactivation Plan (PRU) that the state oil company faces, with the perspective of determining and confirming exploratory opportunities in the Northern Subandean Basin.