French energy company, Total, started gas production for the first time from Bolivia's Incahuasi gas and condensate field, the company said in a written statement Wednesday.
The field is the Group’s first operated development in Bolivia, with a production capacity of 50 thousand barrels of oil equivalent per day, according to the company.
'Incahuasi's production will contribute to Bolivia's gas exports to Argentina and Brazil as well as domestic consumption', said Arnaud Breuillac, president of Total exploration and production.
'Delivered within budget, Incahuasi is the fourth start-up this year and as a low-cost project with a long production plateau, it will contribute to the Group’s production growth in 2016 and beyond,' added Breuillac.
The Incahuasi field is located 250 kilometers from the city of Santa Cruz de la Sierra.
The first phase of the field development involves three wells, a gas treatment plant and 100 kilometers of associated export pipelines. The second phase of development, involving three further wells, is currently under consideration
The development is operated by Total with partners Gazprom, Tecpetrol and YPFB Chaco, 50 percent, 20 percent, 20 percent, 10 percent respectively.
Total has been working in Bolivia since 1996 with equity production of 28 thousand barrels of oil equivalent per day, mostly gas in 2015.
By Huseyin Erdogan
Anadolu Agency
huseyin.erdogan@aa.com.tr