The news has hit the Paraguay Press. bing translation
The Ministry of public works and communication (MOPC) communicates that concessionaire President Energy Paraguay S.A. of the Paraguayan State by law No. 3479/08, the Pirity block, in the Department of Boquerón, Chaco, today officially announced the discovery of a deposit of conventional oil exploratory well Lapacho, close to the airbase.
The statements of the Deputy Minister are given to the information provided to different media by the representative of the firm President Energy, Peter Levine, who announced that the company found oil in Chaco soil, specifically at the Jacaranda I well. Buongermini said that this fact is historical and that works continue because it was not yet the goal of planned excavation. "They are two wells, the first determined the existence of rocks that produce oil; in the second reservoirs, were found which means that it can become commercial", he said.
Buongermini ULTIMAHORA.COM confirmed the existence of hydrocarbons in the Chaco area where the President Energy Company is engaged in drilling. It is the first great reserve of petroleum in Pararaguay. In late November and early December, the drilling would be ending and then confirmed their volume and if it is commercially exploitable. "Lapacho" is the second well drilled by the company President Energy. |
In this case, the Deputy Minister said that the first objective is to supply the local market, which would benefit the economy in general. It would mean the lowering of fuel for the final consumer, it said. He added that the refinery would be done in the country, to avoid exporting the commodity raw material and to re-import a finished product, which implies a higher cost.
The discovery will allow President Energy start producing oil in Paraguay next year and could even sell it to the domestic market, a spokesman said. "President Energy has proven beyond doubt that conventional mobile oil exists in the Paraguayan Chaco," stated the maximum Executive of the firm, Peter Levine.