Bolivia to audit upstream deal

Bolivia’s state hydrocarbons company YPFB launched bidding on Friday to certify investments carried out under an addendum to the Caipipendi upstream contract.

YPFB signed the modification with Repsol E&P Bolivia (37.5% operatoring stake), Shell Bolivia (37.5%) and Panamerican Energy E&P Bolivia (25%) in November 2017.

The change extends the contract starting on May 2, 2031 under the framework of a new investment plan for the area.

Under the deal, the stakeholders pledged to carry out new investments through July 19, 2021 of at least US$350mn for exploration or US$500mn on exploration and its development.

The work under the call for bids will verify investments between July 20, 2018 and July 19, 2019. Offers for the 40-day contract are due on February 17, according to bidding information, available here.

Caipipendi includes the Margarita and Huacaya gas fields and covers 194,900ha across the departments of Chuquisaca, Tarija and Santa Cruz.