Repsol Chairman Antonio Brufau met Bolivian President Evo Morales Tuesday to open the expansion project. The Spanish energy company said the expansion is part of a strategic development project envisioned for Bolivian energy.
The Spanish company said Tuesday it built 18 miles of new pipeline in southern Bolivia to accommodate expected production growth from the region. It said its Margarita and Huacaya fields in Bolivia cover 123,000 acres and the overhaul means the processing plant can now produce more than 490 million cubic feet of natural gas per day.
Repsol said the Margarita overhaul represents a $640 million investment.
"Repsol and its partners have achieved the gas production volume outlined in the Margarita-Huacaya contract a year early, confirming Repsol's commitment to this project and to Bolivia," the company said in a statement.
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