YPFB inks exploration deals with Petrobras, YPF

Wednesday, March 2, 2011

Bolivia's state hydrocarbons company YPFB signed Wednesday exploration agreements with Argentine oil company YPF and Brazilian energy giant Petrobras (NYSE: PBR).

YPF will carry out work in traditional areas Capiguazuti (Chuquisaca department) and Río Salado (Tarija), and in non-traditional area Yuchán (Tarija), YPFB said in a statement.

Petrobras will explore in traditional areas Astillero and Sunchal, and non-traditional area San Telmo, all in Tarija.

Start your 15 day free trial now!


Already a subscriber? Please, login

The companies will have 6-12 months to carry out work depending on agreement.

Brazil is the principal offtaker of Bolivian gas, followed by the domestic market and Argentina, with shipments last year averaging 26.9Mm3/d, 7.88Mm3/d and 4.91Mm3/d, respectively.