Bolivia
Press Release

Bolivia begins the hydrocarbon reactivation agenda

Bnamericas Published: Wednesday, May 27, 2020
Bolivia begins the hydrocarbon reactivation agenda

This Hydrocarbons Ministry release was published using machine translation.

UCOM-MH-27-05-2020.- The Minister of Hydrocarbons, Víctor Hugo Zamora, announced to the Bolivian people that the elaboration of the Hydrocarbon Reactivation Agenda is beginning to inject the country's economy and restructure YPFB.

The announcement was made at a press conference with YPFB CEO Richard Botello; vice ministers; unit directors of the Ministry of Hydrocarbons, and technical personnel of the state oil company.

Minister Zamora explained that the first pillar of the agenda has to do with the development of the hydrocarbon chain linked to preparing urgent short, medium and long-term proposals to have the critical path in the hydrocarbon sector.

He explained "that this document will guarantee an ideal critical route for all Bolivians, and that who comes and takes charge of Hydrocarbons in the future does not change the path of development that we are going to trace."

This document will be prepared by many actors, such as the Ministry of Hydrocarbons, YPFB and academic experts in hydrocarbon issues that are in permanent research activity.

Actors such as the Bolivian Chamber of Hydrocarbons, which ensured accompaniment, participation and organization, will participate; in addition to well operators that currently carry out hydrocarbon activity in Bolivia.

"It will be that document that allows us to walk Bolivians towards the new scenario in relation to hydrocarbons," said Zamora.

Once this document has been obtained, work will be carried out on a second pillar that will seek to operate this hydrocarbon chain through YPFB, an entity that must restructure and face this new institutional mission.

Minister Zamora invited all the actors who wish to contribute to the entire procedure that will take place in these months so that they may contact the Ministry of Hydrocarbons or YPFB.

"The result that we are going to obtain must have a realistic vision to be able to execute short, medium and long-term policies, and reactivate and inject the Bolivian economy through hydrocarbons."

He asked everyone to be attentive to the methodology to be developed to reactivate the sector. "This methodology will be developed by experts and structured by professionals," he said.

For his part, Richard Botello, executive president of YPFB, mentioned that they will be experts in the field who will help to obtain a good work plan.

He affirmed that not only the Ministry of Hydrocarbons or YPFB, but all the corporations in the world, private and state, will have to adjust to new realities in the economic revival.

"Today is different from 10 years ago, it was another completely different reality, and like all corporations in the world, private and state, Yacimientos will also have to adjust to the new reality."

He stated that the most important thing is the joint work between all the experts in the field that will participate in this process.

With the Hydrocarbon Reactivation Agenda, an important moment begins in the vision that the Bolivian State will face regarding investments in hydrocarbons.

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