Gazprom Extends Bolivian Activities

Gazprom CEO Alexei Miller met Bolivia’s president, Evo Morales, in Moscow June 15, the Russian gas giant said. On the agenda were talks about the ongoing implementation of joint projects for hydrocarbon development in Bolivia, including upping the output from the Total-operated Incahuasi gas field which started production in August 2016 .

“Special emphasis was placed on the joint plans for geological exploration in the promising Vitiacua oil and gas block,” Gazprom added.

The two also reviewed their joint plans for developing the natural gas vehicle (NGV) market in Bolivia.

Gazprom’s deputy CEO Vitaly Markelov and contracts head at state oil company YPFB Luis Poma agreed on strategic co-operation involving “joint efforts in a wide range of areas: geological exploration, gas production and hydrocarbon transportation across Bolivia, development of the national gas and oil transportation infrastructure and NGV market, exchange of experience and personnel training, and sci-tech collaboration."

Gazprom EP International's chief Andrey Fick and YPFB's Poma also inked a term sheet regarding the contract for exploration and production in the Vitiacua oil and gas block. The signing will allow the companies to start drafting the main design documentation.

The CEO of Russian export credit guarantee agency Exiar, Alexey Tyupanov and Bolivian petroleum ministry Luis Alberto Sanchez also signed a document to secure financing for supplies of gas-fuelled machinery and equipment produced by Russian manufacturers.

Incahuasi field in southern Bolivia (Map credit: Total)