Arce opens the valves of the Yope-XI well that will initially produce 1.4 million cubic feet of gas per day

Arce opens the valves of the Yope-XI well that will initially produce 1.4 million cubic feet of gas per day

May 4, 2023, 11:14 PM

May 4, 2023, 11:14 PM

The President of the State, Luis Arce, opened this Thursday the Yope-X1 oil well valveslocated in the Santa Cruz municipality of Yapacaní, which will initially produce 1.4 million cubic feet per day of gas and 115 barrels per day of oil.

The inauguration was attended by of the president of YPFBArmin Dorgathen, the Minister of Hydrocarbons, the mayor of Yapacaní, local authorities, assembly members and social organizations.

During his speech, the State dignitary defended the Productive Community Social Model and assured that the economic policies they are employing from your government are correctafter the discovery of the well which he described as “historic”.

He stated that this finding It is a sample of the policies that began in 2020, when he instructed YPFB to carry out an emergency exploration plan in the country, so that in this way reserves are improved, hydrocarbon resources are exploited and correct the lack of investment that was had in exploration.

“It is an important day for the country’s economy and oil history (…), our economic model aims to continue using natural resources to benefit the Bolivian people. From this extraction of oil and gas condensate royalties and direct taxes will come for the department of Santa Cruz”, Arce stated in his speech.

According to the report of the state oil company, $us 17.6 million was invested in this exploration work; Drilling began in 2022 and ended in April of this administration.

The head of state said that your government speaks very littlebut it does a lot for the country’s economy. In response to the latest criticism that he received in economic policy, Arce stated that will respond “with works, with concrete facts that the national government does know what it is doing in the management of the economy and in the management of hydrocarbons”.

“One can talk a lot, but doing is the problemMuch is said and little is done. Us In less than two and a half years we already have several new wellsworking, operating, providing hydrocarbons and trying to alleviate the negative effect of the wells that are decreasing their productive capacity by nature”, he said.

Arce pondered the obligation to invigorate and strengthen the “musculature of the state oil company” to continue with the exploration work throughout the national territory.

Finally, the president reiterated the speech in the sense that the national government is in the phase of industrialization of natural resources.

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