Total Fina Elf: Further Gas Reserves Discovered in Bolivia’s Block Tarija XX West

14-Feb-2001

TotalFinaElf announces the discovery of further gas reserves in southern Bolivia’s Block XX Tarija West. The interest holders in the block are TotalFinaElf (41%, operator), ExxonMobil (34%) and BG Bolivia (25%).

The recently completed Itau X-2 delineation well penetrated the Upper, Middle and Lower Devonian formations, including the deep Santa Rosa Formation, which had not been tapped by the Itau X-1 discovery well.

During testing, the Huamampampa reservoir interval flowed at 0.8 million cubic meters per day of gas and 600 barrels per day of condensate on a 40/64-inch choke. The Santa Rosa formation tested at 1 million cubic meters per day of gas and 350 barrels per day of condensate on a 48/64-inch choke.

Located five kilometers south of 1999 discovery well Itau X-1, the Itau X-2 well expands the gas potential of Block XX Tarija West.

TotalFinaElf also has a 15% interest in the neighboring San Alberto and San Antonio blocks, whose gas resources are under development. Phase 1 production of 6.6 million cubic meters per day of gas for the Brazilian market began on San Alberto in early January 2001.

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