Economy

Oil companies Shell, PAE and Repsol pledge to invest US$900 million in exploration in Bolivia

Oil companies Shell, PAE and Repsol pledged an investment of US $ 900 million for the exploration of the Iñiguazú well, the Hydrocarbons Ministry reported. To make this commitment viable, in the presence of Bolivian President Evo Morales, the Oil Transnationals signed the protocolization of a Contract with the State Company YPFB. Iñiguazú, with an area of 64,350 hectares, is in the reserved areas of YPFB within the Subandean Area of the Gran Chaco Province in the Department of Tarija. The contract stipulates that companies must drill an exploratory well this year and another six until 2025.

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Source: América Economía

Categories:Economy