TotalFinaElf announces start-up of production on San Alberto Block in Bolivia

abarrelfullabarrelfull wrote on 09 May 2012 12:30

January 29, 2001

TotalFinaElf announces the start-up of production in the first development phase of the San Alberto natural gas reserves in Bolivia as scheduled, only a year and a half after the project was launched. The San Alberto Block, located in the southern department of Tarija, came on stream at the beginning of January. Partners are TotalFinaElf (15%), Petrobras Bolivia SA (35%, the operator) and Empresa Petrolera Andina SA (50%).

With a production capacity of 6.6 million cubic meters per day, this first phase is supplying the Brazilian gas market through the Bolivia-Brazil pipeline under a 20-year take-or-pay contract with Petrobras.

Under the terms of the same contract, TotalFinaElf and its partners plan to increase their gas deliveries to 12 million cubic meters per day when the project’s second phase is brought on stream in 2002. Currently being launched, the second phase will have a production capacity of 6.6 million cubic meters per day.

For TotalFinaElf, the start-up of production of San Alberto represents an initial step in developing the significant gas reserves recently discovered in this block as well as in the adjacent San Antonio (TotalFinaElf 15%) and XX West (TotalFinaElf 41%, the operator) blocks.

All three blocks are located along the same hundred-kilometer axis and constitute a new gas region, thus strengthening TotalFinaElf’s strategic position as one of the major players in the Southern Cone gas chain.

Their acquisition is in line with the Group’s strategy of developing its operations in the downstream gas business, especially gas transmission and power generation, in a region where it is already a major gas producer. It also confirms TotalFinaElf’s strong commitment to developing Southern Cone gas resources and markets.

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