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Bolivia Faces Decline In Natural Gas Production, With Results Below YPFB’s Targets. To Reverse This, It Bets On New Projects Like The Mayaya Field.
Bolivia is facing a challenging scenario in the natural gas sector, with production declining and increasingly difficult targets to achieve. Recent data from the National Institute of Statistics (INE) reveals that in the first quarter of 2025, average daily production was 28.7 million cubic meters per day (MMm³/d), below the expectation of 29.3 MMm³/d projected by the state-owned Yacimientos Petrolíferos Fiscales Bolivianos (YPFB).
This forecast for the current year is the lowest since the nationalization of hydrocarbons, which took place in 2006, highlighting the challenges facing the sector.
Declining Natural Gas Production and Its Impact on Bolivia
According to INE, total natural gas production fell by 16% compared to the first quarter of 2024, reaching 2.59 billion cubic meters (Bm³) at the beginning of this year.
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The ongoing decline worries the Bolivian government and the energy sector, which attribute the drop mainly to underinvestment in exploration and the natural decline of existing fields.
Armin Dorgathen, president of YPFB, acknowledges the current difficulty but remains optimistic, stating that gas production “will reach a turning point in the coming years due to renewed exploration efforts.”
The current context reinforces the need to modernize the rigid state structure, incorporating greater participation from the private sector to invigorate the segment.
Plans And Projects To Reverse The Natural Gas Crisis
To halt the decline, YPFB continues to implement its upstream reactivation plan, drilling 56 new exploration wells, an initiative launched by President Luis Arce.
One of the most promising projects is the Mayaya field, budgeted at US$ 400 million and estimated to contain approximately 1.7 trillion cubic feet (Tf³) of natural gas.
This venture was highlighted by S&P Global as one of the ten largest hydrocarbon discoveries in the world in 2024, generating hope for the resumption of production.
Additionally, the Bolivian government proposed an amendment to law 767 of 2015, which regulates the promotion of upstream.
The proposal aims to reduce state control and make the business environment more attractive for private investors, expanding tax incentives and incorporating new benefits to stimulate exploration and production.
Entry of New Players and Private Investments Energize The Sector
Another positive signal for Bolivia’s natural gas sector is the entry of new companies into the market. Companies like Fluxus and Canacol Energy are investing in the country, with investments promised to exceed US$ 300 million across four distinct areas.
Officials highlight that these initiatives indicate a “thaw” in the sector, which is important for the economic and energy recovery of Bolivia.
The current situation indicates that the recovery of natural gas production in Bolivia depends both on the advancement of strategic projects and the modernization of the sector, along with strengthening public-private cooperation.
The challenge is significant, but the country still retains the potential to regain its relevance in the regional energy market.
Source: BNAmericas
Um governo insensato , tomou os campos do Petrobras na marra , e pensou que tudo vai dar certo sem perfuração nova e manutenção , investimento pesado , agora eles estão querendo milagre sem investimento sem dinheiro pela roubalheira que está feita lá.