Drilling work in search of hydrocarbons restarts in Paraguay

Asuncion, Agencia IP.- A new hope for having national hydrocarbons began over the weekend. After six years of inactivity, President Energy Py S.A. started drilling its third well in the Boquerón, Paraguayan Chaco department last Friday at 7:00 PM.

The Vice Minister of Mines and Energy of the Ministry of Public Works and Communications (MOPC), Mauricio Bejarano, traveled to the site to sign the start-up certificate for the works in the so-called Block 6, which they have under concession, and whose coordinates are listed in the hydrocarbon cadastre of the Deputy Ministry.

As reported by the Vice Minister, initially, the company plans to go up to 3,750 meters with this well, which they named Tapir I, within 45 days. «The certainty of what is there may be sooner or later, depending on their decision to continue. They go to that depth because the prospect they are targeting is there,» he explained.

For Bejarano, this event is very significant for the sector because it involves an investment of approximately USD 15 million. «The most remarkable thing is that after six years of absolutely no activity in the exploration and prospecting of hydrocarbons, a new process begins today, opening a new hope for Paraguay to discover hydrocarbons on its surface,» he added.

He also mentioned that the institution will be providing continuous oversight. «We hope that this company achieves good results, and hopefully, the expectations become a reality so that we can have our own hydrocarbons and not depend on other countries,» he said.