Bolivia to spend US$500mn in E&P deals
Bolivia's state hydrocarbons company YPFB and its unit YPFB Chaco signed 40-year E&P service contracts for areas Aguaragüe Centro and Itacaray.
Aguaragüe covers 49,125ha in Tarija department and holds estimated resources of 0.59Tf3, and Itacaray spans 56,250ha in Chuquisaca department with estimated resources of 0.88Tf3, YPFB said in a statement.
If commerciality is declared, estimated investment for Aguaragüe and Itacaray reaches US$175mn and US$309mn, respectively.
The deals now go to the legislative assembly for approval.
YPFB looks to ink similar contracts with Brazil's Petrobras next week for Tarija areas San Telmo and Astilleros, Bolivia's state news agency ABI quoted YPFB head Guillermo Achá saying.
The announcements follow the signing of a contract between YPFB and Argentina's YPF for the Charagua area in Santa Cruz.
ALSO READ SNAPSHOT: Bolivia's upstream hydrocarbon investment plans
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