«Gazprom» plans to sign on the cooperation contracts for gas in Bolivia

© RIA Novosti / Maxim to Aminopherase in fotomontaggi company Gazprom. Archival photo«Gazprom» plans to sign on the cooperation contracts for gas in Bolivia© RIA Novosti / Maxim to Aminopherase the image Bank

The Minister of hydrocarbons of Bolivia Luis Alberto Sanchez said on Friday that within the framework of St. Petersburg international economic forum (SPIEF) Russia’s Gazprom plans to sign an agreement to study three more gas blocks and declare the interest in developing two more.

«Bolivia was invited to participate in the forum in St. Petersburg, one of the most important in the world. It is worth noting that a year ago we signed an agreement with «Gazprom» on the study of three areas from which they are interested in two exploration and development – «Vitaka» and «La Ceiba», which will give the country new investments and increase reserves and production», — quotes the Ministry of hydrocarbons the statement of Sanchez.

Mining agreements on these two blocks could be signed in November in the framework of the forum of gas exporting countries in the Bolivian Santa Cruz, the Minister said.

According to Sanchez, during the St. Petersburg forum can be agreements on the study of three units in the areas of San Telmo sur, San Jorge Norte and Astillero. «It’s important to «Gazprom», being the world’s largest gas company, became the operator in Bolivia because it is a guarantee of investment and success in increasing production,» said the Bolivian Minister.

In June 2016, «Gazprom», the Ministry of hydrocarbons of Bolivia and the Bolivian company Yacimientos Petroliferos Fiscales Bolivianos (YPFB) signed a road map on implementation of projects in the country, in particular, the exploration, production and transportation of hydrocarbons, and the use of LNG. In addition, an agreement was signed for the study of units of «La Ceiba», «Madidi and Waiakoa».

Interests «Gazprom» in the Bolivian projects is Gazprom EP International B. V. is a specialized company for implementation of foreign projects in the field of prospecting, exploration and exploitation of hydrocarbons. According to the document, Gazprom EP International B. V. on 1 year gets right to the study of geological-geophysical materials on the specified blocks.

Gazprom, in partnership with Total E&P Bolivie and TecPetrol de Bolivia is already involved in projects of development of perspective oil and gas areas «Ipati» and «Akio» on the territory of which commissioned in the field «Inca Wasi».

XXI St. Petersburg international economic forum will be held from 1 to 3 June 2017.