YPFB Chaco targets $1.6 billion investment for Bolivia's Okinawa field

YPFB Chaco has initiated the exploration of unconventional reservoirs in Bolivia through the Montecristo-9 well in the Okinawa field, located in Santa Cruz. The project utilizes hydraulic stimulation technology to evaluate gas and condensate potential in the Los Monos and Huamampampa formations.

Initial tests have yielded positive results, including condensate with an API gravity near 55, which can be processed into gasoline and diesel. Abel Villegas, general manager of YPFB Chaco, stated that the Okinawa field could eventually reach a production level of approximately 12,000 barrels of liquids per day and 110 million cubic feet of gas per day. If these projections are met, national liquid production could increase by 40% and gas production by 11%.

To fully develop the field, YPFB Chaco projects an investment of $1.6 billion to drill up to 90 wells. The company aims to attract private capital once a legal framework is established. In support of these developments, the Bolivian government is promoting a ‘short law’ designed to streamline hydrocarbon projects that require new technologies and significant investment.