Bolivia has agreed to develop three areas of the gas fields

© Fotolia / troutnutГазонефтяное field. Archival photoBolivia has agreed to develop three areas of the gas fields© Fotolia / troutnut

Bolivia has agreed to develop sites of hydrocarbon deposits «Inigoes», «San Telmo Norte» and «Astillero», the total investment will exceed $ 1.5 billion.

The ceremony of signing of agreements on investment and the development of three blocks took place in the framework of the opened in Bolivia, the fourth Forum of gas exporting countries. The signing ceremony was attended by President Evo Morales.

Plot «Inigoes» together with the Bolivian YPFB Chaco will develop Spanish Repsol, and Shell and PAE. The volume of investments in this sector amount to $ 900 million.

Block «Astillero» will develop the Bolivian YPFB and Petrobras Bolivia, the amount of investment it will be about 489 million dollars. In block «San Telmo Norte» in conjunction with the Bolivian YPFB Chaco will participate Petrobras Bolivia.

In may the Minister of hydrocarbons of Bolivia Luis Alberto Sanchez reported the interest of Russian «Gazprom» to study three units in the areas of «San Telmo sur», «San Telmo Norte» and «Astillero». He noted that these blocks with Gazprom could be signed relevant agreements.

«When I came to power, some said that if Evo becomes President, investments, will not be cooperation», — said the President of Bolivia, noting that the total investment agreed upon at this meeting, exceeded $ 1.5 billion.

The fourth summit held in the Bolivian Santa Cruz de La Sierra, 21-24 Nov. The organization brings together the world’s leading gas exporters, which have 67% world reserves of this fuel. Members of the GECF are Algeria, Bolivia, Venezuela, Egypt, Iran, Qatar, Libya, Nigeria, United Arab Emirates (UAE), Russia, Trinidad and Tobago, and Equatorial Guinea. Observers have Iraq, Kazakhstan, Netherlands, Norway, Oman and Peru.

Energy Ministers from 12 countries will meet to discuss the state of energy markets, to determine the role of gas in global energy development and to continue cooperation in the energy sector.