MADRID, Aug. 10 (UPI) -- A new natural gas discovery in Bolivia holds enough gas to meet Spanish gas demand for 10 months, Spanish energy company Repsol announced Tuesday.
Repsol announced it made a new gas discovery at its RGD22 well in Bolivia, which completes an effort to increase the production of hydrocarbons there.
The latest find at RGD22 holds an estimated 1 trillion cubic feet of natural gas, which the company said is equivalent to 10 months worth of gas consumption in Spain.
The company said in a Tuesday statement that the region already has the necessary infrastructure to start processing the gas found in the new discovery.
The well is about 34 miles from Santa Cruz de la Sierra. Production by Repsol started in the region in 1968.
Repsol produced nearly 2 million barrels of oil and more than 300 trillion cubic feet of gas in Bolivia in 2009.
New discoveries in the area could increase natural gas production in Bolivia by a factor of seven within the next three years, the company added.
