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.
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