Mubasher: A five-oil company consortium led by Spain's oil company Repsol agreed to invest around $900 million in a new gas block ‘Iñiguazu’ in southern Bolivia, Spanish news agency Efe said.

The new block is expected to produce around 6.5 million cubic meters per day.  

The consortium, comprising Repsol, Royal Dutch Shell, Argentina's Pan American Energy, as well as two subsidiaries of Bolivia's state-owned oil company, inked the agreement with Yacimientos Petroliferos Fiscales Bolivianos SA, Bolivia's state-owned oil-and-gas company, the news agency reported.