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Bolivia, Russia’s Gazprom to sign new agreements at St Petersburg economic forum

May 27, 2017, 5:05 UTC+3 BUENOS AIRES

Also, Gazprom and the the Bolivian State Oil and Gas Corporation YPFB plan to build power generating units

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BUENOS AIRES, May 27. /TASS/. Bolivia and Russia’s major producer of natural gas, OAO Gazprom, plan to sign new agreements on exploration of deposits as they hold talks on the sidelines of the St Petersburg International Economic Forum in the first days of June, the Bolivian Minister of Hydrocarbons and Energy, Luis Alberto Sanchez said on Friday.

"In the course of this forum, we plan to sign another three agreements on exploration of the promising blocks of San Telmo Sur, San Telmo Norte and Astillero deposits," the Ministry of Hydrocarbons and Energy said.

It also recalled that Gazprom International and the Bolivian State Oil and Gas Corporation YPFB signed an agreement last year on exploration of La Ceiba, Vitiaqua and Madidi.

"They told us they had interest in exploring and developing two of them - La Ceiba and Vitiaqua," Sanchez said. The signing of agreements on these two blocks will most likely take place during a forum of gas exporting countries in Bolivia from November 20 through to November 24, 2017.

Sanchez stressed Gazprom’s future role as an operator in Bolivia, saying this would guarantee investment and successful boost of output.

Gazprom and the YPFB signed an agreement on strategic cooperation in 2016. It envisions collaboration in exploring, extracting and transporting Bolivian hydrocarbons, as well as building and modernizing oil and gas infrastructure facilities.

Also, Gazprom and the YPFB plan to build power generating units.

As part of a consortium of companies, Gazprom put on stream the Incahuasi deposit in Bolivia last September. The Russian gas giant’s CEO, Alexei Miller, said it had invested $350 million in the project.

The St Petersburg International Economic Forum will gather from June 1 through to June 3. TASS is the general information parent and official photo host of the event. In addition, it is the operator of the presentation zone of the forum.

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