LA PAZ – Brazilian state-controlled oil giant Petrobras and Britain’s BG Group have been awarded concessions to explore for oil and gas in eastern and southern Bolivia, state-owned oil company YPFB said.
YPFB vice president Luis Alberto Sanchez signed the documents awarding the Cedro area in the eastern region of Santa Cruz to Petrobras and the Huacareta area, located between the southern regions of Chuquisaca and Tarija, to BG Group, the state-owned oil company said in a statement.
YPFB called for bids in early December on five exploration and production areas, including Cedro and Huacareta.
Colombia’s Ecopetrol, U.S. supermajor Chevron, Norway’s Statoil, South Korea’s Kogas, Argentina’s Tecpetrol and China’s Sinopec joined Petrobras and BG Group in bidding for the oil and gas areas, YPFB said.
Of the five areas offered, only Cedro, which covers nearly 100,000 hectares (246,913 acres) in Santa Cruz and Huacareta, which sprawls across 453,000 hectares (nearly 1.12 million acres) between Chuquisaca and Tarija were awarded, the state-owned oil company said.
“Both areas possess important hydrocarbons potential, which should be examined thoroughly in light of the multi-million-dollar investments that must be made to move ahead with the drilling of exploratory wells,” YPFB resource evaluation manager Luis Carlos Sanchez Arregui said. EFE