(Energy Analytics Institute, Ian Silverman, 3.Oct.2018) — Transparency in information is necessary in order for Bolivia and producing departments of the small Andean country to understand the full details related to natural gas and crude oil reserves by department and field, announced the Jubilee Foundation.
Such important and timely information will allow experts and the country as a whole the necessary time to evaluate the data as it relates to resource management, reported the daily El Diario, citing the foundation.
The foundation was referring to a recent hydrocarbon reported released by the Canadian consortium Sproule International Limited.
In the report, the Sproule revealed Bolivia had 10.7 trillion cubic feet (Tcf) of proved gas reserves, 12.5 Tcf of proved plus probable reserves, and 14.7 Tcf of proved, probable plus possible reserves.
“The decrease in probable and possible reserves is a reflection of insufficient exploratory activity in recent years, despite the fact the government has issued six decrees between 2007-2017, that resulted in the awarding of new areas for the exploration and exploitation of hydrocarbons in favor of state oil company YPFB,” the daily reported, citing the report.
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