Russian gas giant Gazprom is preparing a feasibility study for development of three licensed blocks in Bolivia and may receive operator contracts for the blocks without any competition, Gazprom CEO Alexei Miller said.
In June Gazprom and Bolivian state-owned oil and gas company Yacimientos Petroliferos Fiscales Bolivianos (YPFB) signed a roadmap for implementation of projects in the country, including geologic exploration, production and transportation of hydrocarbons. The companies also signed an agreement to explore the La Ceiba, Madidi, and Vitiacua blocks.
“One of our projects, launched in 2016, is exclusive agreements that we signed on three licensed blocks. We have begun developing a feasibility study, and we have agreements with the Bolivian side that if we prove feasibility of development of structures uncovered at these blocks, then we will receive contracts on a noncompetitive basis”, Miller said.
He also said Gazprom invested more than $350 million in development of Bolivia’s Incahuasi natural gas field as part of the consortium for the field’s development.
“The second phase will cost significantly less”, he said.
Total owns 50% in the consortium, while Gazprom and Tecpetrol owning 20% each and YPFB – a 10% stake. The recoverable reserves of the Incahuasi field, located within Ipati and Aquio blocks, stand at 70.8 billion cubic meters of gas and 4.8 million tons of gas condensate. The consortium launched the field in mid-September and said its daily output would reach 6.5 million cubic meters by the end of 2016. (Prime/Business World Magazine)
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