Bolivia, Vietnam cooperate in gas

On August 19, Bolivia’s state-owned petrol company YPFB and the Vietnam Oil and Gas Group (PetroVietnam) signed an agreement in Santa Cruz, Bolivia on researching the oil and gas potential in the South American country.

The official Bolivian news agency, ABI, reported that this research will provide a foundation for both sides to eventually explore, exploit, and develop natural gas in the southern Bolivian regions of Isipiote, Yoai, and Algarrobilla, which are considered to have great potential in the field.

Bolivia mainly exports gas to Brazil (30 million m³ per year) and Argentina (7 million m³ per year).

Bolivia’s natural gas reserve is estimated at 281 billion cubic metres and the country is calling for investment to tap this huge source.

As part of its strategy to expand operations in Latin America, PetroVietnam is also investing in oil and gas projects in Cuba and Venezuela. – VOV

Tags: Vietnam gas, YPFB

Posted by VBN on Aug 22 2011. Filed under Oil-Gas & Petroleum. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry