Bolivia Discovers New Oil, Natural Gas Field Worth $5Bln - State Company

SANTA CRUZ (Pakistan Point News / Sputnik - 08th August, 2023) A new oil and natural gas field was discovered in Bolivia that is expected to bring to the country an additional $5 billion in revenue, the president of Bolivian state-owned oil and gas enterprise Yacimientos Petroliferos Fiscales Bolivianos (YPFB), Armin Dorgathen Tapia, said on Monday.

"We have carried out a survey that allows us to conclude that the country has 0.7 trillion cubic meters (24.7 trillion cubic feet) of gas and 52 billion barrels (of oil)," he told reporters.

The new oil and gas reserve will bring Bolivia an additional revenue of about $5 billion and will allow it to save $1 billion in fuel purchases, the YPFB said on it website.