Bolivia’s YPFB Plans $1.45bn Gas Investment

Bolivia’s state oil company Yacimientos Petroliferos Fiscales Bolivianos (YPFB) said January 29 it is planning to invest, along with other operators, some $1.45bn in an effort to replenish the country’s natural gas reserves.

YPFB subsidiaries and private operators will be responsible for $1.03bn or 71% of the planned investments, while YPFB’s corporate headquarters will contribute the remaining $420mn.

Investments will be targeted at four primary sectors: exploration and exploitation ($905mn), transportation ($235mn), gas networks ($137mn), and industrialisation and other investments ($145mn). The remaining $29mn will be directed towards refining, storage and commercialisation investments.

“Not only will our investments be in the traditional areas of Santa Cruz, Chuquisaca and Tarija, but also in non-traditional areas like La Paz, Beni and Pando where we will be drilling exploration wells,” YPFB CEO Oscar Barriga Arteaga said.

Drilling investments include 18 exploration wells, nine of which are nearing completion. Three are still drilling and four are undergoing pre-drilling civil-works related activities.

Additionally, eight seismic projects are planned, of which six have already been completed, while one is underway and another is in the environmental licensing process. The investment plan also includes activities related to 10 geology and geophysics projects.