Thursday September 28, 2023
  • Venezuela
  • Mexico
  • Colombia
  • Chile
  • Brazil
  • Argentina
  • Podcast
Versión Español
PanAm Post
  • Home
  • Regions
    • South America
    • North America
    • Central America
    • Caribbean
  • Politics
  • Economics
  • Opinion
  • Podcast
  • Authors
  • Contact
No Result
View All Result
  • Home
  • Regions
    • South America
    • North America
    • Central America
    • Caribbean
  • Politics
  • Economics
  • Opinion
  • Podcast
  • Authors
  • Contact
No Result
View All Result
PanAm Post
No Result
View All Result

Home » Bolivia Signs Fossil Fuel Exploration Contract for US$1.6 Billion

Bolivia Signs Fossil Fuel Exploration Contract for US$1.6 Billion

Karina Martín by Karina Martín
November 23, 2017
in Bolivia, Featured, News Brief, Policy, Politics, South America
FacebookTwitterTelegramWhatsapp
(Twitter)
The three contracts combined are projected to generate approximately $20 billion in oil revenue by 2021.   (Twitter)

EspañolBolivian President Evo Morales announced that the state-owned hydrocarbon company Yacimientos Petrolíferos Fiscales Bolivianos has signed three contracts projected to generate approximately US $20 billion in oil revenue by 2021.

The contracts align with the interests of consortium led by the Spanish company Repsol and Brazilian Petrobras that will explore and exploit oil from three areas in Bolivia: Iñiguazu, San Telmo Norte y Astillero.

RelatedArticles

The new socialist supremacisms: a maoist cultural revolution undermines the US

The new socialist supremacisms: a maoist cultural revolution undermines the US

August 21, 2021
GETTR: the powerful weapon of Trump and international right wing

GETTR: the powerful weapon of Trump and international right wing

July 13, 2021

According to the information offered by the President during the Fourth Forum of Gas Producing Countries (FPPG) that took place in Santa Cruz de la Sierra, the investment will be approximately US $1.5 billion.

Estos 3 contratos, de lñiguazú, San Telmo Norte y Astillero, tendrán una inversión de $us 1.582 MM; total recursos 5 TCF; renta de $us 19.380 MM y una producción de 20.000.000 M3/día. pic.twitter.com/DNlI9FfcZ2

— Evo Morales Ayma (@evoespueblo) November 22, 2017

About US $200 million of the investment will be put into production in San Telmo. It was granted to Petrobras Bolivia and its subsidiary YPFB Chaco with a production goal of 10 million cubic meters per day and between one to two trillion cubic feet of reserve gas.

Another agreement in Iñiguazu foresees an investment of US $900, a production of 6.5 million cubic meters per day and at least three TCF. The contract that allows the creation of the consortium will include: YPFB Andina (46 percent), YPFB Chaco (13.445), Shell (15 percent), PAE (10 percent) and Repsol E & P Bolivia S.A. (15 percent), and is expected to generate an oil income of US $6 billion.

  • Read More: Controversy in Bolivia: Evo Morales Accused of Spying on Opposition
  • Read More: Bolivian President Evo Morales Embarks On Unconstitutional Reelection Campaign during Che Guevara Tribute

“Since there is an infrastructure (near Iñiguazú), if the exploration phase is successful, we can supply gas to the market very quickly,” Repsol President Antonio Brufau said.

For the third contract in the Chaco Tarijeño, in Astillero, US $489 million will be invested. The contract with the subsidiaries Chaco y Andina, of YPFB, and Petrobras will have a production of 4.6 million cubic meters per day, with a reserve of one TCF and an oil income of more than US $6 billion.

Bolivia also offered the world’s leading oil companies a guide detailing country’s hydrocarbon potential, highlighting 80 areas reserved for exploration by YPFB with a potential of up to 60 TCF.

The hydrocarbon sector has not seen any growth in this first quarter of 2017. According to data revealed by the National Institute of Statistics (INE) in the first three months of this year the sector’s production actually decreased by 14.1 percent.

The percentage of “growth” of hydrocarbons obtained in the first three months of this year goes hand in hand with the low rate of growth for the Gross Domestic Product obtained in the same period, reaching penalties of 3.34 percent, which represents the lowest rate of economic growth over the last last seven years.

Karina Martín

Karina Martín

Karina Martín is a Venezuelan reporter with the PanAm Post based in Valencia. She holds a bachelor's degree in Modern Languages from the Arturo Michelena University.

Related Posts

The new socialist supremacisms: a maoist cultural revolution undermines the US
Columnists

The new socialist supremacisms: a maoist cultural revolution undermines the US

August 21, 2021
GETTR: the powerful weapon of Trump and international right wing
United States

GETTR: the powerful weapon of Trump and international right wing

July 13, 2021
News

Maduro’s Trial Falls Behind Despite Coordination Between Interim Government and ICC

June 15, 2021
Three Signs That Elon Musk Has the World at His Fingertips
News

15 Republicans Who Voted Against Trump Are Already Facing the Consequences

February 1, 2021
Three Key Moments to Remind Us That the UN Is a Nest of Oppressive Regimes
Asia

Chinese Regime Silences Relatives of COVID-19 Fatalities During WHO Visit

January 29, 2021
Three Key Moments to Remind Us That the UN Is a Nest of Oppressive Regimes
Analysis

Three Key Moments to Remind Us That the UN Is a Nest of Oppressive Regimes

January 29, 2021
Next Post
Bolivian Government Accuses Top US Diplomat of Conspiring with Opposition

Bolivian Government Accuses Top US Diplomat of Conspiring with Opposition

Subscribe free and never miss another breaking story

  • Venezuela
  • Mexico
  • Colombia
  • Chile
  • Brazil
  • Argentina
  • Podcast

© 2020 PanAm Post - Design & Develop by NEW DREAM GLOBAL CORP. - Privacy policy

No Result
View All Result
  • Home
  • Regions
    • South America
    • North America
    • Central America
    • Caribbean
  • Politics
  • Economics
  • Opinion
  • Podcast
  • Authors
  • Contact

© 2020 PanAm Post - Design & Develop by NEW DREAM GLOBAL CORP. - Privacy policy

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. Privacy and Cookie Policy.