Repsol and partners to Invest $900m in Iñiguazu, Bolivia

(Dow Jones) A consortium of five oil companies led by Repsol (REP.MC) will invest $900 million in the exploration and production in a new gas block in southern Bolivia called Iñiguazu, EFE reports.

The area has the potential to produce an estimated 6.5 million cubic meters of gas a day, EFE cites Bolivia's President Evo Morales as saying.

The consortium--which includes Repsol, Royal Dutch Shell (RDSA.LN), Argentina's Pan American Energy LLC and two subsidiaries from Bolivia's state-owned oil company--signed the agreement with Yacimientos Petroliferos Fiscales Bolivianos, Bolivia's state-owned oil-and-gas company, according to EFE.