Bolivia to boost natural gas production, exports

Eric Watkins
OGJ Oil Diplomacy Editor

LOS ANGELES, May 14 -- Bolivia's state-owned Yacimientos Petroliferos Fiscales Bolivianos (YPFB) and 13 oil companies have reached agreements to increase the country's production of natural gas to 44.68 million cu m/day until yearend.

The agreements, which will boost domestic supplies as well as exports, coincide with an announcement of new discoveries of natural gas by Bolivian company GTLI and reports that Bolivia will increase its export of gas to Brazil.

"The three [types of] agreements are aimed at ensuring an increase in production so we can continue to carry out what we have been doing in the domestic market and in that for exports," said YPFB Chief Executive Carlos Villegas, referring to delivery, payment processing, and the revision of development plans.

Villegas said Petrobras Bolivia, Repsol YPF, YPFB-Andina, YPFB-Chaco, BG Bolivia, Total E&P, Petrobras Energia, and Mapetrol are among the firms making the agreements. Villegas told daily newspaper La Razon that natural gas and gas liquids production will increase by 3.68 million cu m this year as a result.

Villegas' statement came as the manager of local firm GTLI announced the successful first production test of a well in the El Palmar field, 40 km from Santa Cruz. The GTLI well was drilled to a depth of 3,500 m and could produce 7 MMcfd of gas.

Both reports will be welcomed in Brazil, where state-run Petroleo Brasilerio SA (Petrobras) has been increasing imports of gas from Bolivia as demand picks up.

"We're restarting imports," said Petrobras Chief Financial Officver Almir Barbassa, who told analysts, "Imports of natural gas from Bolivia are growing."

Barbassa, who noted that Petrobras earlier this reduced imports of Bolivian natural gas to about 19 million cu m/day, said the reduction at that time as the global financial crisis and ensuing economic slowdown reduced demand for the fuel.

In addition, Barbassa said that high reservoir levels in Brazil's hydroelectric power system at the time had reduced the need for electricity from the country's gas-fired electric power plants.

According to Petrobras, Brazil is raising its gas imports now to meet increased demand from gas-fired electric power plants, which has resulted from a drought in southern Brazil that has cut output from hydroelectric sources.

Contact Eric Watkins at hippalus@yahoo.com.

Related Articles

US rig count down 8 units, ‘ugly’ next 12 months expected

08/28/2015 After several weeks in which the overall US drilling rig count steadily climbed, the week ended Aug. 28 marked its largest loss since early June, d...

Keystone XL decision isn’t imminent, White House press secretary says

08/28/2015 A presidential decision on TransCanada Corp.’s cross-border permit application for its proposed Keystone XL crude oil pipeline is not imminent, Whi...

Extension sought for Mackenzie Gas Project

08/28/2015 The earliest possible construction start for the Mackenzie Gas Project, which would connect natural gas fields in the Canadian Arctic with northwes...

Tap Oil signs PSC for block offshore Myanmar

08/28/2015 Tap Oil Ltd. reported its entry into Myanmar following the signing of the production-sharing contract for shallow-water Block M-7 in the Moattama b...

EIA: US oil, gas supply less vulnerable to hurricanes in 2015

08/28/2015 A relatively light hurricane season anticipated for 2015 and an overall decline in the Gulf of Mexico’s share of US crude oil and natural gas produ...

Rosneft, Egas sign master LNG supply, purchase deal

08/28/2015

Rosneft Group unit Rosneft Trading SA and Egyptian Natural Gas Holding Co. (Egas) have signed a master LNG supply and purchase agreement.

PetroChina reports first half results

08/27/2015

PetroChina Co. Ltd. reported first-half increases in output of crude, natural gas, and refined products compared with a year earlier.

CNOOC net production up in first half

08/27/2015 CNOOC Ltd. said first-half net production of oil and gas rose 13.5% to 240.1 million boe, primarily due to contributions from new projects in Bohai...

Apache taking Woodside to court over Wheatstone LNG cash dispute

08/27/2015 Houston independent Apache Corp. is taking Woodside Petroleum Ltd. to court over an alleged unpaid $64 million cash call associated with the sale o...
White Papers

Solutions to Financial Distress Resulting from a Weak Oil and Gas Price Environment

The oil and gas industry is in the midst of a prolonged worldwide downturn in commodity prices. While ...
Sponsored by

2015 Global Engineering Information Management Solutions Competitive Strategy Innovation and Leadership Award

The Frost & Sullivan Best Practices Awards recognise companies in a variety of regional and global...
Sponsored by

Three Tips to Improve Safety in the Oil Field

Working oil fields will always be tough work with inherent risks. There’s no getting around that. Ther...
Sponsored by

Pipeline Integrity: Best Practices to Prevent, Detect, and Mitigate Commodity Releases

Commodity releases can have catastrophic consequences, so ensuring pipeline integrity is crucial for p...
Sponsored by

AVEVA’s Digital Asset Approach - Defining a new era of collaboration in capital projects and asset operations

There is constant, intensive change in the capital projects and asset life cycle management. New chall...
Sponsored by

Transforming the Oil and Gas Industry with EPPM

With budgets in the billions, timelines spanning years, and life cycles extending over decades, oil an...
Sponsored by

Asset Decommissioning in Oil & Gas: Transforming Business

Asset intensive organizations like Oil and Gas have their own industry specific challenges when it com...
Sponsored by

Squeezing the Green: How to Cut Petroleum Downstream Costs and Optimize Processing Efficiencies with Enterprise Project Portfolio Management Solutions

As the downstream petroleum industry grapples with change in every sector and at every level, includin...
Sponsored by
Available Webcasts


The Resilient Oilfield in the Internet of Things World

When Tue, Sep 22, 2015

As we hear about the hype surrounding the Internet of Things, the oil and gas industry is questioning what is different than what is already being done. What is new?  Using sensors and connecting devices is nothing new to our mode of business and in many ways the industry exemplifies many principles of an industrial internet of things. How does the Internet of Things impact the oil and gas industry?

Prolific instrumentation and automation digitized the industry and has changed the approach to business models calling for a systems led approach.  Resilient Systems have the ability to adapt to changing circumstances while maintaining their central purpose.  A resilient system, such as Maximo, allows an asset intensive organization to leverage connected devices by merging real-time asset information with other critical asset information and using that information to create a more agile organization.  

Join this webcast, sponsored by IBM, to learn how about Internet of Things capabilities and resilient systems are impacting the landscape of the oil and gas industry.

register:WEBCAST



On Demand

Taking the Headache out of Fuel License and Exemption Certificates: How to Ensure Compliance

Tue, Aug 25, 2015

This webinar, brought to you by Avalara, will detail the challenges of tax document management, as well as recommend solutions for fuel suppliers. You will learn:

-    Why it’s critical to track business partner licenses and exemption documents
-    The four key business challenges of ensuring tax compliance through document management
-    Best practice business processes to minimize exposure to tax errors

register:WEBCAST


Driving Growth and Efficiency with Deep Insights into Operational Data

Wed, Aug 19, 2015

Capitalizing on today’s momentum in Oil & Gas requires operational excellence based on a clear view of what your business data is telling you. Which is why nearly half* of oil and gas companies have deployed SAP HANA or have it on their roadmap.

Join SAP and Red Hat to learn more about using data to drive process improvements and identify new opportunities with the SAP HANA platform running on Red Hat Enterprise Linux. This webinar will also show how your choice of infrastructure impacts the performance of core business applications and your ability to achieve data-driven insights quickly and reliably.

*48% use SAP, http://go.sap.com/solution/industry/oil-gas.html

register:WEBCAST


OGJ's Midyear Forecast 2015

Fri, Jul 10, 2015

This webcast is to be presented by OGJ Editor Bob Tippee and Senior Economic Editor Conglin Xu.  They will summarize the Midyear Forecast projections in key categories, note important changes from January’s forecasts, and examine reasons for the adjustments.

register:WEBCAST


Emerson Micro Motion Videos

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!

 

Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected