Zamora reports that Bolivia has 8.95 TCF to continue selling gas to Brazil, Argentina and supply the domestic market

UCOM-MH-11-27-2019.- This Wednesday, at a press conference, the Minister of Hydrocarbons, Víctor Hugo Zamora Castedo, informed that the gas reserves reach 8.95 TCF which will allow the gas sales business to continue to Brazil, Argentina and supply the domestic market. Denying in this way a report published with erroneous data.

"Today we will receive an official report from YPFB about the specific and exact reality of the reservations that we have within the study and the analysis that has been carried out inside the Deposits," said the Minister.

The authority indicated that Bolivian Fiscal Petroleum Reservoirs (YPFB) will be the official spokesperson to talk about reserves, thus leaving aside speculation and that Bolivia knows what is really happening with this issue.

In this regard, YPFB president ai, Ing. José Luís Rivero Sandoval, informed that the quantification of reserves was started with Sproule in June 2018, they presented their draft in July 2019 which was analyzed by the YPFB reservation professionals and it was approved in August. "Just yesterday that information arrived and based on it we are working to publicize the reserve values that this study gives us," said the president.

According to the authorities' explanation, the quantification in relation to Proved Developed gas reserves reaches 5.68 TCF, the Proven Undeveloped reserves reach 3.27 TCF, finally Total Proved reserves would reach 8.95 TCF, the same that would allow to develop a work of export normally.

Likewise, Zamora said that there is a fall in gas reserves which must be assumed, so an investigation will be carried out to determine the causes of the same. "This may be due to lack of interest in exploration and exploitation, poor initial information or neglect of the previous authorities," he said.

Finally, the highest authority of this ministerial entity, emphasized on protected areas “it is the policy of the current Ministry to protect and protect Mother Earth, it is not necessary to continue exploring and exploiting reserve areas… this does not mean that the gas business will run a risk"

This Ministry of Hydrocarbons release was published using machine translation.