Petrobras Bolivia Spuds Deep Caranda X1005 Well in Santa Cruz

Instant Max AI

(Energy Analytics Institute, Jared Yamin, 27.Sep.2018) —The well was spud in the Caranda Field inthe  presence of Bolivia’s President Evo Morales.

The field is located in the Ichilo province of the department of Santa Cruz and is operated by Petrobras Bolivia.

The Deep Caranda exploration well (Car-X1005) will require an investment of $47 million and has potential to produce 35 million cubic feet per day (MMcf/d) of natural gas, reported the daily newspaper La Razón.

“If gas is confirmed, additional investments of $184 million could be made to drill two other wells in the area,” reported the daily, citing Morales.

With drilling of the Car-X1005 well the company aims to certify a potential resource of approximately 0.6 trillion cubic feet (Tcf) of natural gas, which could translate into revenues of $600 million over the next 20 years, reported the daily.

Additionally, the exploratory project, if successful, could lead to the revitalization of a mature field (the Colpa Caranda area), and could generate a new perspective regarding developments, investments, and other activities aimed at boosting gas production.

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