Press

Gazprom and Bolivia Stepping Up Cooperation in Oil and Gas Sector


A working meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Evo Morales, President of the Plurinational State of Bolivia, took place on June 14 at the Company's office in Moscow.

Working meeting between Evo Morales, President of Plurinational State of Bolivia, and Alexey Miller in Moscow

Evo Morales and Alexey Miller

The parties expressed appreciation for the ongoing implementation of joint projects for hydrocarbon development in Bolivian territory and discussed the opportunities for increasing the output of the Incahuasi field. Special emphasis was placed on the joint plans for geological exploration in the promising Vitiacua oil and gas block.

Alexey Miller (second left) at working meeting with Evo Morales, President of Plurinational State of Bolivia

Alexey Miller (second left)

The meeting participants noted the cost-effectiveness and eco-friendliness of natural gas compared to other fossil fuels and spoke about its potential in a variety of applications, reviewing the joint plans for NGV market development in Bolivia.

Evo Morales (second right), President of Plurinational State of Bolivia, at working meeting with Alexey Miller

Evo Morales (second right)

At the end of the meeting, a number of documents aimed at expanding cooperation between Gazprom and Bolivia in the oil and gas sector were signed in the presence of Alexey Miller and Evo Morales.

Vitaly Markelov, Deputy Chairman of the Gazprom Management Committee, and Luis Poma, Vice President for Contract Management and Supervision at Yacimientos Petroliferos Fiscales Bolivianos (YPFB), signed an Agreement of Strategic Cooperation. The document envisages 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.

Agreement of Strategic Cooperation signed by Luis Poma, Vice President for Contract Management and Supervision at Yacimientos Petroliferos Fiscales Bolivianos (YPFB), and Vitaly Markelov in presence of Alexey Miller and Evo Morales, President of Plurinational State of Bolivia

Luis Poma and Vitaly Markelov at signing ceremony

Andrey Fick, Managing Director of Gazprom EP International B.V., and Luis Poma 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.

Term Sheet regarding contract for exploration and production in Vitiacua oil and gas block signed by Luis Poma, Vice President for Contract Management and Supervision at Yacimientos Petroliferos Fiscales Bolivianos (YPFB), and Andrey Fick, Managing Director of Gazprom EP International B.V., in presence of Alexey Miller and Evo Morales, President of Plurinational State of Bolivia

Luis Poma and Andrey Fick at signing ceremony

Alexey Tyupanov, CEO of EXIAR, and Luis Alberto Sanchez, Minister of Hydrocarbons and Energy of Bolivia, signed a document to secure financing for supplies of gas-fueled machinery and equipment produced by Russian manufacturers.

Document to secure financing for supplies of gas-fueled machinery and equipment produced by Russian manufacturers signed by Luis Alberto Sanchez, Minister of Hydrocarbons and Energy of Bolivia, and Alexey Tyupanov, CEO of EXIAR, in presence of Alexey Miller and Evo Morales, President of Plurinational State of Bolivia

Luis Alberto Sanchez and Alexey Tyupanov at signing ceremony

In addition, Evo Morales visited the Central Control Room of Gazprom and viewed a presentation on the operation of Russia's Unified Gas Supply System – the largest gas transmission network in the world.

Background

Bolivia is the third-largest hydrocarbon producer in South America, extracting over 20 billion cubic meters of natural gas per year.

Gazprom's interests in Bolivian projects are represented by Gazprom International B.V., a specialized company aimed at implementing hydrocarbon prospecting, exploration and development projects outside Russia.

Gazprom in partnership with Total S.A. (50 per cent, project operator), Tecpetrol S.A. (20 per cent), and YPBF (10 per cent) develops the promising Ipati and Aquio oil- and gas-bearing blocks, within which the Incahuasi field is located. Gazprom (50 per cent) and Total (50 per cent) also implement a hydrocarbon exploration project in the Azero block.

In 2016, Gazprom, Bolivia's Ministry of Hydrocarbons and Energy, and YPFB inked the Roadmap for implementing Bolivia-based projects for hydrocarbon exploration, production, and transportation in Bolivia and updating the General Scheme for the Bolivian gas industry development until 2040. Gazprom and the Bolivian company also cooperate in personnel training and retraining.

In 2016, Gazprom and YPFB inked the Agreement to explore the promising La Ceiba, Vitiacua and Madidi blocks. The La Ceiba and Vitiacua blocks are situated in the Chaco oil- and gas-bearing basin in the southern part of Bolivia (Tarija and Chuquisaca departments).

The Russian Agency for Export Credit and Investment Insurance (EXIAR) was established in late 2011, becoming Russia's first export credit agency.



New service from OilVoice
Trip Shepherd is for companies who need to track their staff in areas of risk.
It's free to use, so we invite you to try it.

Visit source site

gazprom.com/press/news/2018/june/article436045/?fr...

GazpromRussiaBoliviaOilgasEvo Moralesnatural gasNGVYPFB

More items from oilvoice


Cyber Security Experts Unite to Protect Europe’s Critical Industries

CS4CA Summit Returns to London this October Staying abreast of fast-paced industry developments is crucial for cyber security professionals. And while one can learn a lot from publications and social media, it's hard to beat the value of insights gained first-hand from peers. This is why 150+ IT ...

OilVoice Press - OilVoice


Posted 1 year agoPress > cybereurope

Africa E&P Summit

The organisers of the Africa E&P Summit are bringing together Africa's leading exploration companies and governments, just one of the many reasons why you should be attending frontier's event that they are organising and hosting in London at the IET: Savoy Place, 22-23 May. Over 200 key senior exec ...

OilVoice Press - OilVoice


Posted 1 year agoPress > Africasummitoil summit +2

Equinor Deepens in Offshore Wind in Poland

Equinor has exercised an option to acquire a 50 % interest in the offshore wind development project Bałtyk I in Poland from Polenergia. This transaction is a follow-up of the agreement between the two companies which came into force in May 2018 , by which Equinor acquired a 50 % inter ...

OilVoice Press - OilVoice


Posted 1 year agoPress > EquinorEquinor EnergyPoland +2

Nigeria has highest capex on crude and natural gas projects in sub-Saharan Africa Over Next Seven Years, says GlobalData

Nigeria accounts for more than 34% of the proposed capital expenditure (capex) on planned and announced crude and natural gas projects in the sub-Saharan Africa over the period 2018–2025, according to GlobalData , a leading data and analytics company. The company's report: ‘H2 2018 Production ...

OilVoice Press - OilVoice


Posted 1 year agoOpinion > GlobalDataNigeriaCrude +5

CNOOC Signs Strategic Cooperation Agreements with 9 International Oil Companies

HONG KONG, Dec. 18, 2018 /PRNewswire/ -- CNOOC Limited (the "Company", SEHK: 00883, NYSE: CEO, TSX: CNU) announced today that its parent company, China National Offshore Oil Corporation (CNOOC), has signed Strategic Cooperation Agreements with 9 international oil companies including: Chevron, Conoco ...

OilVoice Press - OilVoice


Posted 1 year agoPress > CNOOCChina National Offshore Oil CorporationChevron +11
All posts from oilvoice