YPFB and Vintage sign protocols for exploration in the Sayurenda, Yuarenda and Carandaiti areas

Machine translation was used to publish the following YPFB release

La Paz, July 27, 2024 (AN-YPFB). – Yesterday the protocols of three contracts were signed for the exploration and exploitation of the Sayurenda (Tarija), Yuarenda (Tarija) and Carandaiti (Chuquisaca, Tarija and Santa Cruz) areas. The signing took place between the Executive President of Yacimientos Petrolófilos Fiscales Bolivianos, Armin Dorgathen Tapia, and the General Manager of Vintage Petroleum Boliviana LTD, Jorge Martignoni, with which exploratory activities begin in the aforementioned areas.

“Investments in exploration and exploitation activities by the Vintage operating company will reach USD 504 million and the Bolivian State could obtain income of at least USD 1.5 billion, resources that will be distributed among the central government, departmental governments, municipal governments and universities through royalties and taxes to improve the quality of life of the population,” said Armin Dorgathen, president of the state oil company.

This signature is within the framework of the Upstream Reactivation Plan (PRU) developed by the state oil company. In addition, the oil services contracts will allow the evaluation of the hydrocarbon potential of the Sayurenda, Yuarenda and Carandaiti areas.

“If the expected commercial discovery is made, natural gas reserves would increase by around 370 trillion cubic feet (BCF),” the authority said.

YPFB has the objective of attracting new investments that boost the sector, increasing hydrocarbon reserves to supply the domestic market and meet export markets.