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Newly discovered gas reserve in Bolivia to boost output

Xinhua, October 5, 2016 Adjust font size:

A newly discovered gas deposit in south Bolivia is set to boost output by at least 3 million cubic meters of gas a day, Bolivian President Evo Morales said Tuesday.

The new deposit was found in the southern department of Chuquisaca while workers explored for hydrocarbons at the Huacaya II oilfield, Morales said at a press conference in Chuquisaca's capital Sucre.

Guillermo Acha, president of the state-owned oil and gas company Yacimientos Petroliferos Fiscales Bolivianos (YPFB), said exploration work at the well began in October last year with an investment of 112 million U.S. dollars, 53 million of which have been spent so far.

Investment will continue to uncover more reserves, Acha said.

In 2015, natural gas discoveries in Bolivia totalled about 1.5 trillion cubic meters, according to YPFB. Endi