Petrobras may have found more gas in Bolivia, Valor reports


SAO PAULO, Jan 30, 2009

Petroleo Brasileiro SA may have found a “new and large” natural-gas deposit at a depth of 5,100 meters (16,700 feet) in Bolivia, Valor Economico reported, citing a Brazilian government official who refused to be named.

Petrobras, as the Rio de Janeiro-based company is known, confirmed it is drilling at the Ingre block in Chuquisaca, center-south Bolivia, the newspaper said.

There is an “immense” probability the well contains natural gas, and the deposit may be the same size as San Antonio or San Alberto, the two biggest gas fields in Bolivia, Valor cited the government official as saying.

Petrobras told Valor it can’t estimate volumes of gas, a timeframe for potential production or whether it had found hydrocarbons, the newspaper said. Petrobras’s press office wasn’t immediately available for comment when called by Bloomberg News.

Story by Laura Price from Bloomberg News

Bloomberg News 01/30/2009

Copyright© 2008 respective author or news agency. All rights reserved.



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