(Energy Analytics Institute, Jared Yamin, 17.Jun.2016) – YPFB and Gazprom signed an agreement for the evaluation of the hydrocarbon potential of three areas reserved for YPFB.
The agreement was signed by YPFB President Guillermo Acha and GP Exploration and Production S.L. legal representative Andrey Stepanovich Fick for the Vitiacua, La Ceiba and Madidi areas, reported the daily newspaper La Razón.
Gazprom, YPFB and Bolivia’s Hydrocarbon and Energy Ministry signed an Action Plan on February 18, 2016 in which the entities agreed to evaluate the hydrocarbon potential of areas reserved for YPFB. Gazprom E&P plans to invest an estimated $370 million to develop the areas in the case a discovery has commercial potential.
Vitiacua is located between Santa Cruz and Chuquisaca departments and covers an extension of 73,875 hectares. La Ceiba has an extension of 47,500 hectares and is located in Tarija department. Both areas are located in what are known as a traditional area. Madidi covers an extension of 690,000 hectares in a non-traditional area in the La Paz department.
***