Bolivia has made a new natural gas discovery of 1 trillion cubic feet (tcf) in the Caipipendi field of the southern department of Chuquisaca and the country plans for its exploitation in 2021.

Bolivia, through the field operators, Repsol, Shell, and PAE, found the new discovery at the Boicobo Sur–X1 reservoir. The drilling operations of the well have been ongoing since October 2019 with an investment of about $74 million and reached more than 5,000 meters in depth. It should be noted that Bolivia already has 10.7 tcf of natural gas reserves, securing both its domestic market and its export commitments to Argentina and Brazil.

Bolivia’s President Luis Arce commented on the discovery, “Mother Nature is providing us with a mega field containing about 1 TCF in reserves.”