Oil production peaked in the mid-1970s but new NGL
production associated with gas fields is leading to renewed growth in
output, which should continue near a plateau for the next decade.
Large gas fields lie in the narrow sub-Andean basins that run through
the centre of the country and output is increasing rapidly as additional
fields are developed, in particular the San Alberto and San Antonio
fields. Output growth is expected to continue to 2020 even with the
country’s foreign investment uncertainties.
Bolivian oil consumption has increased since 2003 but is
expected to increase only modestly over the next decade allowing room
for minor exports of NGLs to neighbouring countries.
However gas consumption will grow rapidly in line with production.
Exports, piped locally and perhaps eventually through to an LNG plant
located on the Pacific coast, have also begun to increase, and will
carry on increasing through to 2020.