Bolivia's YPFB secures regional, international pledges

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Thursday, July 27, 2017

Bolivia's state hydrocarbons company YPFB reported it signed agreements and MOUs with regional and international companies to advance exploration, and the sale of natural gas and urea.

One MOU was inked with Paraguay's state oil company Petropar to allow YPFB to sell LPG and build and operate an LPG bottling plant, as well as build natural gas networks, in the neighboring, country.

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The cooperation includes carrying out technical and economic feasibility studies for the possible construction of a binational natural gas pipeline.

YPFB said it also signed technical exploration agreements (TEA) with Shell and Pluspetrol for the Río Salado area and an LOI with Russia's Gazprom to explore areas Vitacua and Ceiba.

And the Bolivian company penned a cooperation MOU for the sale of natural gas and LPG with Argentina's Refinor.

The pledges were secured at YPFB's 2017 gas and oil event in Santa Cruz where the state company was scheduled to sign additional deals on Wednesday.

In a related note, Echo Energy, which along with Pluspetrol signed the TEA, said in a statement that the "agreement will enable the companies to progress a technical evaluation of the block over the next 12 months.

"On completion of the technical evaluation the companies will have the opportunity to negotiate a commercial agreement with YPFB which would define a work programme and is likely to include the drilling of an exploration well," Echo added.

Pictured: From left, YPFB president Óscar Barriga Arteaga, Paraguay industry and trade minister Gustavo Leite, and Petropar head Eddie Jar (CREDIT: YPFB).