INDUSTRY BRIEFS

10/25/1999
ExplorationRepsol-YPF SAdisclosed a large oil and gas find on Caipipendi Block in southern Bolivia. On test, Margarita X3 well flowed 2,300 b/d of oil and 2 million cu m/day of gas from one formation. Drilling is continuing; Repsol-YPF said it expects to discover additional pay zones. The firm postulates estimated reserves for the current find at more than 300 million boe, but it says this figure could double. License interests are: operator Repsol-YPF, 37.5%; BG PLC, 37.5%; and ARCO, 25%.PetrochemicalsBP Amoco PLCasked the Oman government to cancel construction of a 500,000 tonne/year ethylene plant at Sohar, Oman (OGJ, May 18, 1998, p. 44). The decision to call off the $900 million proj...
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