Total begins production at Itaú field

Total has announced the startup of the Itaú gas and condensate field located on Block XX (Tarija Oeste) 400 km south of the city of Santa Cruz in the Andean Cordilleras foothills. The first phase of the development came on stream on 2 February and is designed to produce 1.5 million m³/d of gas (10 000 bpd of oil equivalent), which will be processed in the facilities of the neighboring San Alberto field. Itaú gas production will mainly be exported. The Block XX joint venture has also submitted for approval to YPFB a development plan, which aims at increasing Itaú’s production from 1.5 to 5 million m³/d by mid 2013 (about 35 000 bpd of oil equivalent).

Total E&P Bolivie discovered the Itaú field in 1999. After having first conducted delineation operations between 2001 and 2003 and then supervised the first development phase of the field, Total E&P Bolivie sold on 1 February a participating interest on Block XX of 4% to YPFB Chaco and 30% to Petrobras, to which the operatorship was also transferred. After completion of these transactions, Total E&P Bolivie will hold a 41% interest on Block XX.

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