Spanish oil and gas company Repsol and Bolivia are negotiating to extend their partnership until 2050. Repsol has just completed the third phase of the Margarita-Huacaya project in the department of Tarija in southern Bolivia, which has reached a record production of 19 mcm/d, i.e. more than 30% of total gas production in Bolivia.
The project, developed by Caipipendi Consortium, is operated by Repsol (37.5%) in partnership with BG (37.5%) and PAE E&P (25%). Repsol had committed to reaching production of 18 mcm/d by January 2016, a target that was achieved almost a year early, in February 2015.
Repsol holds rights in 29 blocks in the country, including four exploration and 25 development blocks. The group’s production in Bolivia is approximately 40,000 boe/d, derived mostly from the Margarita-Huacaya block. Repsol also owns about 49% in the oil company Andina (majority stake held by state-owned company YPFB).