En Español

Very usefull links


News links




Dow Jones

Oil price



Views and News





Marianna Parraga -Summit GECF: Bolivia signs $1.6 bln in gas deals with Repsol, Petrobras, Shell, Pan American Energy



By Marianna Parraga

Petroleumworld 11 22 2017

Bolivia's government on Tuesday signed natural gas development deals with Spain's Repsol, Brazil's Petrobras, Royal Dutch Shell and Pan American Energy that are expected to draw $1.6 billion in investment and boost output.

The deals cover blocks in the Iniguazu, San Telmo Norte and Astillero gas areas. Repsol, Shell and Pan American Energy will participate in the Iniguazu consortium, while Petrobras will be a partner in the other two. Several units of Bolivia's state-run YPFB will participate in all the projects.

“We are very confident and we have hope,” Bolivia President Evo Morales said the signing ceremony at the Gas Exporting Countries Forum (GECF) that started on Tuesday in Santa Cruz. “We are committed to secure transparent contracts.”

Bolivia's declining gas production is seen by analysts as an obstacle for boosting exports to key customers in Argentina and Brazil. The country finished 2016 with reserves of 0.3 trillion cubic meters, the same as 2015, and production of 19.7 billion cubic meters, a drop of 3 percent, according to BP's statistical review.

Morales said the projects with foreign partners could add about 21 million cubic feet per day of output, with early production coming on line as early as 2020 or 2021.

Repsol Chief Executive Antonio Brufau said at the ceremony that he expected the Iniguazu project to go well: “As there is existing infrastructure (near Iniguazu), if the exploration phase succeeds, we will be able to supply gas to the market very fast.”

Morales said he expected that project alone to bring in $900 million of investments.

Repsol, Shell, Pan American and YPFB last year extended a previous contract to produce gas at the Capipendi fields for 15 more years until 2046, involving a $980 million investment. The blocks produce some 8.6 million cubic meters per day of gas.

Story by Marianna Parraga; Writing by Richard Valdmanis; Editing by Cynthia Osterman and Richard Chang from Reuters.

reuters.com 11 21 2017

We invite all our readers to share with us
their views and comments about this article.
Write to editor@petroleumworld.com

By using this link, you agree to allow PW
to publish your comments on our letters page.

Any question or suggestions,
please write to: editor@petroleumworld.com

Best Viewed with IE 5.01+ Windows NT 4.0, '95,
'98,ME,XP, Vista, Windows 7,8,10 +/ 800x600 pixels



Contact: editor@petroleumworld.com,

Editor & Publisher:Elio Ohep/
Contact Email: editor@petroleumworld.com

CopyRight © 1999-2016, Paul Ohep F. - All Rights Reserved. Legal Information

PW in Top 100 Energy Sites

CopyRight©1999-2017, Petroleumworld ™  / Elio Ohep - All rights reservedThis site is a public free site and it contains copyrighted material the use of which has not always been specifically authorized by the copyright owner.We are making such material available in our efforts to advance understanding of business, environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have chosen to view the included information for research, information, and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission fromPetroleumworld or the copyright owner of the material.