Gazprom and Bolivian Energy Ministry highlight successes of energy partnership
A working meeting between Vitaly Markelov, Deputy Chairman of the Gazprom Management Committee, and Luis Alberto Sanchez, Minister of Hydrocarbons and Energy of Bolivia, took place today at the 7th St. Petersburg International Gas Forum.
The meeting highlighted the successes of the bilateral partnership in the energy sector. It was noted that the parties continued to actively develop the Incahuasi field. With the drilling locations determined for prospecting wells at the Azero licensed block, preparations are underway for their construction.
The parties also discussed the cooperation prospects with regard to natural gas as a vehicle fuel and small-scale LNG. It was stressed that efforts were being made to prepare the Agreement for creating a joint venture focused on projects in the aforementioned fields.
Also today, Gazprom EP International B.V., Gazprom Marketing & Trading Ltd., the Bolivian Ministry of Hydrocarbons and Energy, and Yacimientos Petroliferos Fiscales Bolivianos signed a Memorandum of Understanding.
The document reflects the parties’ intention to set up a joint venture for gas marketing in Argentina and Brazil.
The 7th St. Petersburg International Gas Forum is being held as part of the Energy Efficiency and Energy Development International Forum 'Russian Energy Week.'
Gazprom's interests in Bolivian projects are represented by Gazprom EP International B.V., a specialized company aimed at implementing hydrocarbon prospecting, exploration and development projects outside Russia.
Gazprom (20 per cent) in partnership with Total E&P Bolivie (50 per cent), TecPetrol de Bolivia (20 per cent), and YPBF Chaco (10 per cent) develops the promising Ipati and Aquio oil- and gas-bearing blocks, within which the Incahuasi field is located.
Gazprom and Total E&P Bolivie also implement a hydrocarbon exploration project in the Azero block. The project's shareholding structure at the geological exploration stage is as follows: Gazprom – 50 per cent and Total E&P Bolivie – 50 per cent.
In 2016, Gazprom and Yacimientos Petroliferos Fiscales Bolivianos (YPFB) inked the Agreement on strategic cooperation, as well as the Agreement to explore the promising La Ceiba, Vitiacua and Madidi blocks located in Bolivia.
Also in 2016, Gazprom, YPFB, and Bolivia's Ministry of Hydrocarbons and Energy inked the Roadmap for implementing projects in Bolivia. Gazprom and the Bolivian Ministry of Hydrocarbons and Energy also signed the Memorandum of Understanding to promote the use of liquefied natural gas and the Agreement on updating the General Scheme for the Bolivian gas industry development until 2040.
In 2017, Gazprom and YPFB signed the Cooperation Agreement on personnel training.