Bolivia is close to signing gas purchase-sale agreements with private companies in Brazil and Argentina, informed the Hydrocarbons Minister, Luis Sanchez. He added that oil & gas revenues reached $US1.9 billion in 2017 and the estimations for this year are $US 2.2 billion and for 2019 $US2.5 billion.
Bolivian state-owned oil & gas company, YPFB, invested around $US38 million in seven regasification plants and spent $US 16 million in 1,506 connections for household gas that will benefit 7,530 inhabitants in Beni. According to YPFB, the nationalised company has invested $US62 million in Beni for exploration and gas distribution.
Foreign Direct Investment in Bolivia could reach this year around $US1,300 million, according to the government. The Minister of Planning Development, Mariana Prado, stressed that FDI grew in the last 12 years from $US700 million to $US1,200 million in 2017.
The investment to improve the ports on the Paraguay-Parana waterway and the bi-oceanic railway in Bolivia already exceeds the $US500 million, said the Public Works Minister, Milton Claros.
Bolivia has a long history with the oil and gas industry, with the country’s first liquids production commencing in 1925. Today production is dominated by gas, a commodity that has become vital to the country’s economy.
By E. Dunphy, ACA Natural gas has played a key role in Bolivia’s economy, notably over the last 15 years where production has more than doubled from 2003 levels to reach 1654mmscf/d in 2017. However, under-investment in exploration now sees the country boasting a reserves life of a […]
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A total of $US 4.8 million from the South Korean cooperation have been invested in research and seed production projects in Bolivia. A delegation of the Korean Cooperation (Kopia) visited the facilities of the National Institute of Agricultural and Forestry Innovation (INIAF) to evaluate the investment. The director of the Kopia expressed his satisfaction with the implementation of the implementation of the projects.
The prize of gas that Bolivia export to Brazil and Argentina has increased by 43% from $US4.2 for million BTU (British Termic Unit) at the end of 2017 to $US 6 for million BTU for the last quarter of this year, according to the Ministry of Hydrocarbons. Bolivia is renegotiating with Brazil a new contract for gas exports and also is negotiating with Argentina an adjustment to the current contract.