Chris Wheal(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. |
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