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Bolivia signs agreements with Gazprom to explore gas in two new areas

State oil company YPFB of Bolivia and its Russian counterpart Gazprom signed an agreement today to promote exploration and exploitation of gas in the Vitiacua and La Ceiba areas, located in the East and the Bolivian South, respectively.

Santa Cruz (Bolivia), Nov 23 (EFE) .- The state oil company YPFB of Bolivia and its Russian counterpart Gazprom signed an agreement today to promote the exploration and exploitation of gas in the areas Vitiacua and La Ceiba, located in the eastern and southern Bolivian, respectively.

The agreement was signed by the president of YPBF, Oscar Barriga, and the general director Gazprom Exploración y Production in Bolivia, Andrei Fik, at a ceremony attended by Bolivian President Evo Morales and Russian Energy Minister Alexander Novak.

Vitiacua has an extension of 73,000 hectares and is located between the departments of Santa Cruz (east) and Chuquisaca (southeast), while La Ceiba is located in the Tarija region, with an area equivalent to 47,000 hectares.

In the act, YPFB and Gazprom also signed a memorandum of understanding to create a "Joint Commercial Partnership" to promote investments and a record on an agreement to update the Bolivian development plan in the sector until 2040.

The Bolivian Minister of Hydrocarbons, Luis Alberto Sánchez, underlined the partnership between YPFB and Gazprom and new projects for a change of energy matrix in Bolivia driving more the use of vehicular natural gas with the help of Russia.

In turn, Novak stressed that Bolivia and Russia are next to celebrate the 120 years of its bilateral relationship, the growth of trade and stressed the cooperation in the energy field and the possibility that Gazprom trade gas in other nations.

Currently, Gazprom is already a partner with other oil companies in the Aquío field that is producing natural gas, but in the two new fields, Vitiacua and la Ceiba, could act as an operator.

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