YPFB CEO sacked over Drillmec contract

Bolivia
Guillermo Acha, the president and CEO of Bolivian NOC YPFB, was fired on Thursday over the purchase of drilling equipment worth USD 149 million from Italy’s Drillmac, which was cancelled in April.

Bolivian President Evo Morales announced Oscar Javier Barriga as the replacement of 35-year-old Acha, who has denied involvement in the bidding process. Drillmec had been awarded to contract in February.

“We’ve seen that the procedures were bad, and the prosecutors will complete the corresponding process,” Morales said, cited by Reuters.

“The contract has been annulled, so there is no economic loss due to the drill purchases.”

Recent Posts

UK allows oil exploration in North Sea wind project zones

The UK's hydrocarbons regulator has awarded 31 new exploration licences in the country's North Sea waters, Reuters reported on Friday Read More

12 hours ago

ExxonMobil closes acquisition of Pioneer, creating Permian powerhouse

ExxonMobil announced the closing of its USD 60-billion acquisition of Pioneer Natural Resources on Friday, a move that solidifies its… Read More

16 hours ago

BP-Eni joint venture Azule Energy enters Namibia’s Orange Basin

BP-Eni joint venture Azule Energy has entered a strategic farm-in agreement with Rhino Resources in Namibia's offshore Orange Basin, the… Read More

18 hours ago

Chariot starts gas drilling campaign in Morocco

Africa-focused energy group Chariot has spudded the RZK-1 exploration well on the Gaufrette prospect at the Loukos Onshore licence in… Read More

22 hours ago

Touchstone acquires Trinidad E&P player Trinity

Touchstone Exploration has acquired Trinidad-focused Trinity Exploration & Production in an all-shares deal, the Canadian upstream player said on Wednesday Read More

1 day ago

ExxonMobil “optimistic and pushing forward” with Mozambique’s Rovuma LNG

ExxonMobil is "optimistic and pushing forward" with the Rovuma LNG project in Mozambique and eyes an FID by the year's… Read More

2 days ago

This website uses cookies.