|
COPYRIGHT 2005 Hart Publications, Inc.
Bolivia has been roiling with political turmoil, after street marches by thousands of protestors led to the resignation of President Carlos Mesa. Interim President Eduardo Rodriguez took office in early June, as protestors continued to advocate nationalization of Bolivia's gas-rich hydrocarbon industry.
Although Bolivia has enjoyed impressive exploration success during the last decade, the bulk of its gas reserves are stranded. Several fields containing resources of more than 10 trillion cubic feet (Tcf) of gas have been found in the southwest corner of the country, including Margarita, San Alberta and Sabalo. According to the U.S. Energy Information Administration, Bolivia's proven gas reserves were 27.6 Tcf as of January 2004, and when potential reserves are included that number jumps to 53.3 Tcf. At present, Bolivia has the second-largest gas reserves in South America, trailing only Venezuela.
The high costs to transport Bolivian gas have made it difficult for its gas to penetrate established markets in Brazil and Argentina. At the same time, many of Bolivia's impoverished citizens are leery of the country's recent moves to privatize the industry and export more gas. In their view, nationalization would assure that all sectors of the population would share in the country's hydrocarbon wealth.
1 Canada
The Bakken play that has been so successful in Montana's Richland County is also active on the southeastern Saskatchewan side of the Williston Basin. Nickle's Petroleum Explorer reports that Waveform Energy Ltd. recently drilled two Bakken horizontal tests at 14-29-1-9 W2M and 14-12-1-10 W2M. The company has fracture-stimulated...
Read the full article for free courtesy of your local library.
|
Bookmark this article
Print this article
Link to this article
Email this article
Digg It!
Add to del.icio.us
RSS
