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News // Economy

Gazprom to stimulate dynamic growth of Bolivia’s energy market

20 June 2016 , 13:22Neftegaz.RU1008

Alexey Miller and Luis Alberto Sanchez Fernandez, Bolivian Minister of Hydrocarbons and Energy, and Guillermo Acha Morales, President of Yacimientos Petroliferos Fiscales Bolivianos (YPFB), signed at the Petersburg International Economic Forum a Road Map between Gazprom, Bolivia's Ministry of Hydrocarbons, and YPFB for implementing projects in Bolivia.

The document sets out the basic measures for broadening cooperation in the following areas:

    joint development and implementation of new projects for hydrocarbon exploration, production, and transportation in Bolivia;
    updating of the General Scheme for the Bolivian gas industry development until 2040;
    promotion of LNG use throughout Bolivia;
    staff training and development;
    utilization of the potential of Gazprom's scientific centers and preparation of the concept for creating a scientific and technical gas industry center in Bolivia.

Andrey Fick, Managing Director of Gazprom EP International B.V., and Guillermo Acha Morales signed an Agreement to explore the La Ceiba, Madidi, and Vitiacua blocks. According to the document, Gazprom EP International B.V. will be granted the right to study the geological and geophysical materials from the abovementioned blocks for one year. The materials will be used for feasibility studies. If Gazprom decides to take part in the geological exploration and development of those blocks, Gazprom EP International B.V. may enter into operator contracts for selected blocks on a non-tender basis.

Gazprom and Bolivia confirmed their mutual commitment to enhancing their strategic cooperation in the oil and gas sector. Our presence in Bolivia will stimulate the dynamic growth of the country's energy market and facilitate its social and economic development, said Alexey Miller.


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