Monday, December 29, 2014

OIL & GAS.- Potential oil reserves of Lliquimuni is five times the current reserves of Chaco and Andina

The potential oil reserves of Lliquimuni is five times the current reserves of Chaco and Andina, so YPFB plans to build a refinery in La Paz. The gas containing the block (1 TCF ) represents 10% of the country's proven reserves.

The interpretation of the 2D seismic test conducted by YPFB Petroandina SAM ( SA Mixed ) formed by YPFB (YPFB ) and Petroleos de Venezuela (PDVSA ) confirmed the presence of crude oil and natural gas in commercially exploitable nontraditional area Lliquimuni ( north of La Paz) . Until 2012, the exploration of block require an investment of US $ 171.6 million .

The studies "have identified two structures of interest on a closed area of 156 square kilometers (km2) : Lliquimuni Lliquimuni Central and North . The volumes associated structures are estimated at 50 million barrels ( MMbbl ) of oil and one trillion cubic feet (TCF) of gas", revealed Petroandina CEO , Miguel Angel Pradel .

Between 2008 and 2010, the binational company invested $ 102 million in duties us seismic survey , surface geology and magnetotelluric studies in Lliquimuni block ( located on an area of ​​6,750 km2 which are distributed among the provinces Franz Tamayo, Sud Yungas , and Caranavi Larecaja ) .
This year it invested $ US 9.6 million in the interpretation of seismic data and announced that it will invest "over US $ 60 million" for the drilling Lliquimuni Center X-1 ( LQMC X-1 ) to be located between the provinces Caranavi and Larecaja .

"Although the goal ( the project) is to drill the well to a depth of 4,300 meters, we expect no problems, because the topography (from Lliquimuni ) is not as difficult as in the South Subandino" stated YPFB president, Carlos Villegas.

No comments:

Post a Comment