Drilling Program in Bolivia in 2017

Oilfield Fiscales Bolivianos (YPFB) scheduled for this management drilling 18 exploratory wells in the country, the president of the state oil company, William M. Acha said.

"We are scheduled to complete the drilling of 10 exploratory wells, four of which were started in 2016 and six will start in 2017. Also scheduled to begin drilling eight wells this year in the perspective of finding larger gas reserves and Oil, "Acha said.

The announcement was made during the public hearing of "Final Accountability 2016 - initial 2017 of the hydrocarbons sector", attended by the Minister of Hydrocarbons and Energy, Luis Alberto Sanchez and the Head of the Transparency Unit of this Portfolio of State, Edmundo Novillo Aguilar.

YPFB Corporacion and the oil companies that operate in Bolivia will drill the wells La Muela X1, Yarara X1, Gomero X1, Patuju X5, Katari X4, Bulo Bulo Bloque Bajo X1, Humberto Suarez Roca 12D, Colorado X3, Huacaya X2, Tacobo X1001 Side Track , Villamontes X7, Sipotindi X1, Bulo Bulo Block Bajo Norte, Monkeys X12, Dorado Sur X1006, Rio Grande X1001, Patuju EX1D and Caranda X1005.

For this management, it was also programmed the conclusion of four seismic studies initiated the last steps (three in 2D and one in 3D); Eight seismic studies (dimensions) will also be underway. It was also planned to conclude 10 Geology and Geophysics Studies (six Magnetotelluric Studies, one Aerogravimetry Study - Aeromagnetometry and three Geochemistry Studies). Likewise, the execution of a Aerogravimetry Study - Aeromagnetometry will begin.

Acha believes that exploration should be intensified and this activity should be part of the policy and the fundamental strategic objective of the present and future of the country.

The investment in exploration tasks will reach US $ 692 million this year, of which US $ 536 million will be in charge of YPFB Casa Matriz and its subsidiaries and other US $ 156 million programmed by the operating companies through service contracts Tankers.

Exploitation
As for wells related to development or exploitation, the state oil company in 2017 planned to complete the execution of 21 wells (one started in 2015, six in 2016 and 14 in 2017); Drilling of two wells to be completed by 2018 will begin.

The completion of the intervention of seven wells and the beginning of the intervention of a well was scheduled. In addition, important projects are planned for the construction and installation of production facilities, including the following: Compression Systems Sabalo, Water Disposal System "Installation first module Margarita Plant", Line Caigua - The slope, Duct 30 "from Incahuasi to Yabog, Condensate Storage Plant Incahuasi, among others. The total investment in development will be US $ 452 million.

In 2016 management, it was concluded with the drilling of 13 development wells.