Bolivia and Brazil
Press Release

Progress and projects in the hydrocarbon and energy sector after 75 days of the government of President Luis Arce

Bnamericas
Progress and projects in the hydrocarbon and energy sector after 75 days of the government of President Luis Arce

This Ministry of Hydrocarbons and Energies release was published using machine translation.

UCOM-01-23-2021.- The Minister of Hydrocarbons and Energy, Franklin Molina Ortiz, in an interview with Radio Patria Nueva at noon today, highlighted the good news for all Bolivians, regarding the purchase-sale contract of interruptible natural gas signed in recent days with the sister country of Brazil through its state company Petrobras.

“Effectively, on January 21 of this year, a new interruptible gas purchase-sale contract was signed with Petrobras for a volume of up to 6.08 million cubic meters per day. This negotiation allowed YPFB to define that Petrobras can pay a price of 6.5 dollars per million BTU for the volumes of natural gas delivered to the Mutún ”, stated Franklin Molina.

For the country's hydrocarbon sector, this new contract represents an important achievement since it will allow additional income for oil income, considering the current difficult situation that the hydrocarbon sector is going through both in the national and international context; "We are assuming the commitment with the government and with our country to manage and expand markets for our gas under competitive conditions, I reiterate that this will allow additional income that was not contemplated last year for our governorates and for our municipalities," said the authority .

According to the minister's statements, for the 2021 management, $ 756 million has been committed throughout the hydrocarbon chain, of which an investment of $ 269 million is scheduled in the exploration area and $ 144 million in operation. It is also important to mention the issue of gas networks, for which an investment of $ 132 million is planned for 2021, this will allow the country to generate constant activity for micro-enterprises and companies, which will contribute to An important way in generating employment, also benefiting peri-urban and rural populations where they require access to home gas service.

The authority also mentioned that one of the projects that is being planned and executed by the state company YPFB is the construction of a renewable diesel plant with a volume of 12 thousand barrels per day and the construction of a biodiesel plant , for which the volume will be defined by the engineering study that will be tendered shortly. These projects allow the generation of dynamics to lift the country's economy over the next few years, and in turn, generate high-tech jobs with an ecological focus.

Regarding the energy sector, after a semi-paralysis during the de facto government, work is being done on the reactivation of electrical projects, wind projects, hydroelectric projects, photovoltaic solar project, including the Laguna Colorada geothermal project; In this context, Minister Molina announced that in February the start-up of a photovoltaic solar plant in Oruro will be made possible, “it is approximately 50 megabytes and that investment is bordering a little more than $ 92 million, which means the entry of technologies such as alternative energies, which will allow an entry of foreign currency for the country, this is an important project, as well as the 108 megabytes that will also enter into the planning of the electricity sector with a wind source and others projects that are in the execution portfolio by ENDE ”, likewise, the minister added that electrification projects are also planned in rural areas, which are being reactivated after having practically had a 2020 management paralyzed.

Finally, the Minister of Hydrocarbons and Energies, leaves a message for all Bolivians, reaffirming that in 75 days of democratic government they are working in record time, providing security and certainty to the population that a good administration is being carried out. of state companies, achieving their reactivation after having been found in a very critical situation, "to show the population that the Ministry of Hydrocarbons and Energies, and the companies that are part of the State, are working intensely with the objective of to achieve immediate results that can guarantee the population a sustainable and balanced development over time, that allow us to reactivate our energy sector and the development of alternative projects, because our President's vision is to think precisely about the future ”.

Subscribe to the leading business intelligence platform in Latin America with different tools for Providers, Contractors, Operators, Government, Legal, Financial and Insurance industries.

Subscribe to Latin America’s most trusted business intelligence platform.

Other projects in: Oil & Gas (Bolivia)

Get critical information about thousands of Oil & Gas projects in Latin America: what stages they're in, capex, related companies, contacts and more.

  • Project: Area Cedro
  • Current stage: Blurred
  • Updated: 4 months ago
  • Project: Okinawa area
  • Current stage: Blurred
  • Updated: 6 months ago

Other companies in: Oil & Gas (Bolivia)

Get critical information about thousands of Oil & Gas companies in Latin America: their projects, contacts, shareholders, related news and more.

  • Company: Cámara Boliviana de Hidrocarburos  (CBH)
  • CBH is Bolivia's hydrocarbons chamber, which brings together more than 100 companies operating in the country's oil and gas sector. It seeks to promote industry competitiveness ...
  • Company: Gas & Electricidad S.A.  (G&E)
  • Gas & Electricidad (G&E) is a Bolivian firm that develops efficient energy solutions for local and international markets. It is engaged in electric generation and natural gas an...
  • Company: Ferrostaal Bolivia Ltda.  (Ferrostaal Bolivia)
  • Ferrostaal Bolivia Ltda. is a subsidiary of the German firm Ferrostaal GmbH. Its main line of business includes providing equipment, services, solutions and products for the gra...
  • Company: Gas TransBoliviano S.A.  (GTB)
  • Gas TransBoliviano S.A. (GTB) owns and operates the 557km Bolivian stretch of the Bolivia-Brazil gas pipeline. The stretch has a 32 inches diameter and a maximum capacity of 32....
  • Company: TR TEC LTDA.  (Tecnicas Reunidas Bolivia)
  • Técnicas Reunidas TEC Ltda. is the Bolivian unit of Spanish engineering and construction company Técnicas Reunidas S.A., and is engaged in construction of industrial plants and ...