Milner, Kampac to invest in Bolivia
Bolivia
LA PAZ, February 27, 2018 – Milner Capital and Kampac Oil have struck a preliminary deal to invest USD 2.5 billion in Bolivia, international media reported on Monday.
NOC Yacimientos Petrolíferos Fiscales Bolivianos has signed an MoU with the two companies for the development of the Madre de Dios Basin, which is believed to hold 4 billion barrels of oil and 340 bcm (12 tcf) of gas in recoverable resources, Reuters reported. Milner would put down USD 2 billion and Kampac would invest the remaining USD 500 million, the report added.
“These agreements signed with Kampac Oil, based in Dubai, and Milner Capital, based in London – new partners that are joining our exploration and production efforts – show that Bolivian norms give legal security to foreign companies,” Bolivian President Evo Morales said on Twitter.
More content from Bolivia
Latest news and features
