On December 30, 2014, LQC-X1, the priority exploratory well undertaken by Sinopec Jiangsu Petroleum Engineering Corporation spudded into drilling, one year after its launching. Bolivian President Evo Morales attended the ceremony and offered his best wishes.
Located in Lliquimuni, La Paz, Bolivia, LQC-X1 is 3,897 meters deep by design on the sea level of 397 meters. The drilling is expected to complete in 205 days, the project owner is YPFB-Petroandina. The construction period was about 330 days with contract value of more than US$14 million.
In the ceremony, President Evo Morales stressed that Lliquimuni was rich in oil and gas resources and, as the first well in this region, LQC-X1 well is of significant importance. The president said, if this exploratory well could have some findings, Bolivia would step up prospecting efforts to improve the well-being of the people in La Paz.