Bolivia sees $1.6 bln in gas deals

Bolivia

SANTA CRUZ, November 22, 2017 – Bolivia has signed natural gas development agreements worth USD 1.6 billion, international media reported on Wednesday.

Shell, Repsol, Pan American Energy and YPFB have signed a deal to develop the Iñiguazú gas block, Reuters reported, following a similar exploration agreement for the block signed in June. Petrobras and NOC YPFB will develop the San Telmo Norte and Astillero concessions.

The contracts are expected to add a total of 595,000 cubic metres (21 mcf) of gas per day to Bolivia’s declining output by around 2020 or 2021, Bolivian President Evo Morales told journalists at the signing ceremony.

“We are very confident and we have hope,” Morales added. “We are committed to secure transparent contracts.”