The well targets the Yantata reservoir as its primary objective and the Lower Petaca formation as a secondary target. Irasí León Saavedra, Drilling Director for the National Exploration and Exploitation division, indicated the project aims to increase oil production with light crude rated between 44 and 46 degrees API. The Surubí-Mamoré field was returned by Repsol and is now operated directly by YPFB’s exploration and production unit.
YPFB stated it is conducting continuous environmental monitoring of the operation in compliance with Bolivia’s Environmental Law, given that the area of influence corresponds to an agricultural production zone. The company provided technical specifications indicating the project is classified as a development well rather than an exploration well, suggesting YPFB is working to develop proven reserves rather than testing new prospects.
The $9 million investment comes as Bolivia’s refining sector operates at approximately 43 percent of installed capacity due to insufficient feedstock. Combined processing at the Gualberto Villarroel and Guillermo Elder Bell refineries averaged 24,067 barrels per day between January and July 2026, down nearly 40 percent from 40,332 barrels per day in 2021. The decline reflects reduced domestic crude and condensate production rather than refining constraints.
The Bolivian government separately authorized YPFB’s refining subsidiary to import crude oil under Supreme Decree 5701, promulgated September 7, 2026. The decree permits the refineries to process imported crude and sell derivatives directly at market prices without state subsidies, representing a shift from the previous requirement to sell refined products exclusively through YPFB’s distribution network. President Rodrigo Paz announced delivery of an initial one million barrel crude shipment to increase combined refinery output by 5,000 to 7,000 barrels daily.
This article was curated and published as part of our South American energy market coverage.
