France's Total confirms 'significant' gas find in Bolivia

Paris (Platts)--11Oct2004

French oil-giant Total Monday confirmed it has made a "significant" discovery
in Bolivia's Ipati block, 300-km south of the Santa Cruz basin. Drilled to a
depth of 5,150 meters, the Incahuasi X1 well tested at more than 1-mil cu
m/day of gas through a 44/64-inch choke. It is the first discovery on the
Ipati permit, which the company signed in March 2003. Total, in a statement,
said the well and its potential area are currently being appraised. Bolivian
government sources told Platts last Friday that the find contained preliminary
estimates indicating reserves of 7-10 Tcf of gas and significant volumes of
liquids. The country's official estimate of gas reserves is 52.3 Tcf, while
many analysts rank them lower at around 32 Tcf. The X1 block is located in a
54-km by 15-km area straddling the sub-Andean region of Santa Cruz and
Chuquisaca departments, about 950-km southeast of the capital La Paz. The
find, is the first potentially major one within Bolivia's Chuquisaca
department.

Copyright © 2004 - Platts

Please visit:  www.platts.com

Their coverage of energy matters is extensive!!.