PARAGUAY: OPEN FOR BUSINESS

The Bolivian territory directly to the north-west of Paraguay has South America’s second largest natural gas reserves (second to Venezuela). It doesn’t take a genius to figure out that Paraguay’s northern Chaco bordering Bolivia might have similar resources. And that the country’s economy could transform almost overnight with a big find and the start of commercial production. The simple fact is there have been easier areas in the world for oil and gas exploration and distribution, which is why after the Suez Crisis big oil companies like Texaco who were looking for oil in Paraguay invested in exploration elsewhere. But with the high prices of today, exploration in remote areas is worthwhile, and technology makes it easier. Oil and gas companies like Pantera Petroleum from the USA and CDS Oil and Gas UK are already there exploring and claim already to have identified substantial reserves.

Tags: Bolivia, CDS Oil and Gas, gas, LPG, oil, Pantera Petroleum, paraguay