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Bolivian president announces major natural-gas find

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Agence France-Presse

<div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img alt="Bolivian President Luis Arce delivers a speech during the celebration of the Plurinational State of Bolivia, at the Casa Grande del Pueblo government palace in La Paz, on January 22, 2022. Aizar Raldes/AFP" src="https://sa.kapamilya.com/absnews/abscbnnews/media/2022/reuters/02/06/bolivia.jpg"/><figcaption>Bolivian President Luis Arce delivers a speech during the celebration of the Plurinational State of Bolivia, at the Casa Grande del Pueblo government palace in La Paz, on January 22, 2022. <em>Aizar Raldes/AFP</em></figcaption></figure></div><p>Bolivian President Luis Arce announced Saturday the discovery of major new reserves of natural gas that officials said could eventually bring in $260 million a year.</p><p>The discovery was made in the &quot;Margarita-10&quot; well, operated by Spanish company Repsol in the huge Margarita-Huacaya field. One of the country&#x27;s main natural gas reservoirs, it covers parts of the southern Chuquisaca and Tarija regions.</p><p>Natural gas is one of landlocked Bolivia&#x27;s principal exports. </p><p>The well is expected to produce 300 billion to 350 billion cubic feet of natural gas, Arce said in the Andean city of Oruro.</p><p>Bolivian state oil company YPFB said the well should generate income for the state of more than $260 million a year.</p><p>Repsol and other foreign companies operate in the Margarita-Huacaya field through concessions granted by the Bolivian state via YPFB.</p><p>For years, hydrocarbons were Bolivia&#x27;s chief export, but in recent years they have been surpassed by mineral exports, principally gold and zinc.</p><div><strong>FROM THE ARCHIVES</strong></div><figure class="op-interactive"><iframe height="315" src="https://www.youtube.com/embed/4U-Q_B1pFeU?enablejsapi=1" width="560"></iframe></figure><div class="iwantbar">Watch more in <a href="//www.iwantv.com.ph/">iWantv</a> or <a href="//tfc.tv/">TFC.tv</a></div>

Bolivian President Luis Arce has announced the discovery of major new reserves of natural gas that officials said could eventually bring in $260 million a year.