Repsol and Partners to Invest $900 Million in Iñiguazu, Bolivia -EFE

A consortium of five oil companies led by Repsol SA (REP.MC) will invest $900 million in the exploration and production in a new gas block in southern Bolivia called Iñiguazu, EFE reports.

--The area has the potential to produce an estimated 6.5 million cubic meters of gas a day, EFE cites Bolivia's President Evo Morales as saying.

--The consortium--which includes Repsol, Royal Dutch Shell PLC (RDSA.LN), Argentina's Pan American Energy LLC and two subsidiaries from Bolivia's state-owned oil company--signed the agreement with Yacimientos Petroliferos Fiscales Bolivianos SA, Bolivia's state-owned oil-and-gas company, according to EFE.

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(END) Dow Jones Newswires

November 22, 2017 02:42 ET (07:42 GMT)