Bolivian natural gas field reaches one trillion cubic feet in reserves

Bolivia announced Thursday that natural gas reserves at the Aquio-Incahuasi field are estimated at one trillion cubic feet (about 28.3 billion cubic meters).

At a press conference, Bolivian Minister of Hydrocarbons and Energy Luis Alberto Sanchez said that a certification process for the reserves at the Aquio-Incahuasi field had found the reserves.

"Thanks to the exploration and development work done at the Aquio-X1001 and Incahuasi 2 and 3 wells, the reserves from this field have been raised to approximately one TCF from 2013 to now," said Sanchez.

According to figures from the ministry, the Bolivian government has invested about 1.5 billion U.S. dollars in well drilling, the construction of a processing plant and other operations at the field.

In its first phase, the Incahuasi plant will process around 7 million standard cubic feet of gas a day, while once at full operation, the field will process up to 10 million standard cubic feet of gas a day.

Bolivia's entire hydrocarbon reserves are estimated to be about 13 TCF (about 368 billion cubic meter). Endi