Partners ink Bolivia gas exploration deal

Bolivia

LA PAZ, November 8, 2016 – Bolivia’s YPFB Chaco and Petrobras’ local subsidiary, Petrobras Bolivia, late on Monday signed an exploration deal that will see the companies explore two gasfields.

The USD 1.2 billion agreement covers the Astillero and San Telmo fields and has a duration of 40 years. Combined, the two fields are estimated to hold 113.3 tcm (4 tcf). First production is tentatively scheduled for 2022.

YPFB has a 60% stake in the Astillero field, with Petrobras Bolivia holding the remaining 40%. For San Telmo, the shareholding is the opposite.

“The investments of companies such as Petrobras and [Brazilian state electric company] Eletrobras are guaranteed by the constitution and under accords ratified, moreover, by our legislative assembly,” Bolivian President Evo Morales said at the signing ceremony, where he was accompanied Brazilian Minister of Mines and Energy Fernando Coelho Filho