Bolivian President Luis Arce announced on Saturday that new reserves had been discovered in a large gas field, which would contribute $ 260 million a year to the public sector once they begin to be exploited.
The discovery was made in a deposit operated by the Spanish company Repsol, the so-called Margarita-Wakaya, one of the largest in the country, in the southern regions of Tsukisaka and Tariha.
Natural gas is one of the main exports of this Latin American country.
The Bolivian public oil company YPFB estimated in a press release that “the exploitation of these fields will increase revenues for the state (…) by more than 260 million dollars a year”.
In 2021, the Andean state’s exports reached a value of 10.9 billion dollars, in other words, they recorded an increase of 59% compared to the previous year.
Of that amount, $ 2.3 billion comes from hydrocarbons and $ 5.8 billion from other minerals, according to the Bolivian Institute of Foreign Trade.
Source: AMPE
Source: Capital
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