The oil companies Total and British Gas will be making major investments in Bolivia’s oil and gas chain, according to the country’s Ministry of Hydrocarbons and Energy.
A pre-agreement was signed with the French firm Total to guarantee investment of at least USD 1 billion in hydrocarbons exploration aimed at finding gas reserves of nearly 13 trillion cubic feet (TCF) by 2019.
Additionally, in November, British Gas began 2D seismic exploration in the Huacareta Norte area, with an initial cost of USD 50 million.
During the first year the British Gas investment will reach USD 130 million, and if the results are positive, its injection of resources in the country will rise to USD 500 million.
Government authorities note that Bolivia offers may important factors to attract foreign investment, including a great profile for prospection of oil and gas resources.
Contact
Gerardo Villagómez: gvillagomez@ferrere.com