Spanish:
 
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PDVSA and YPFB to partner in new
joint venture to operate in BoliviaMathaba
By Elio Ohep
Petroleumworld
CARACAS
Petroleumworld.com 05 12 06
Bolivian Hydrocarbons minister Andrés Soliz Rada said Thursday to the press, President Evo Morales and Venezuelan president Hugo Chavez plan to sign next Thursday a new joint venture between PDVSA and YPFB, under which PDVSA will fund gas exploration, drilling, production, sales, marketing and training and YPFB will operate the activities. PDVSA will only take up to 10% of the profits, in order to strengthen the Bolivian hydrocarbons industryThe PDVSA-YPFB partnership will be called Petroandina and the objective of the partnership is to get an competitive edge on YPFB after the new nationalization of the country's nationalization of the oil industry. One of the projects under the new Petroandina will be the installation of a plant for liquid extraction from gas exported to Brazil. The premise will be based in Río Grande, in eastern Santa Cruz department.
Soliz Rada, explained in the news conference that PDVSA will also assist in the installation in six months of a petrochemical plant for production of plastics in Villamontes, in Tarija department, and Petroandina will open new full service gas stations mirroring those of Citgo in the U.S., that included all car services and restaurants.
The agreement also include the training in Venezuela of 200 Bolivian engineers and the supply by venezuela of 200,000 bpd of gasoil to Bolivia, also PDVSA will grant a loan of USD 8 million to YPFB to enhance an existing hydrocarbons refining and storage areas.
Soliz Rada reply to criticisms that Venezuela is making a lot of money off the deal saying that Bolivia is the one that is making off well, We'll make 95 (percent) to five percent, in favor of YPFB, so the profits go to us," "The intention (of Venezuela) is achieving an alternative to the dominating presence of the United States through the Free Trade Agreements," Soliz Rada added.
The two state-owned corporations are making he deals under recent signed agreements between the two countries for exploitation of Bolivian hydrocarbons.
This deals are been disclosed 10 days following Morales "nationalization of Bolivian hydrocarbons", a decision that put Brazil's Petrobras and Spain's Repsol on danger grounds, both in companies operated a big percentage of the hydrocarbon industry in Bolivia.
Government and company officials from Brazil and Spain were to held talks this week on the nationalization announcement on May 1.
Late wednesday after the talks, Brazil said it accepted the nationalization and will continue at high level the negotiations. Spain was to held talks on Friday.
- Elio Ohep, editor@petroleumworld.com, 58 412 996 3730, Caracas / La Paz.
Petroleumworld News 05 11 06
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