Bolivia sets $1.05 billion E&P budget

Bolivia’s state-owned YPFB said state and private investment in oil and gas exploration and production will reach $1.05 billion in 2009.

Jun 12th, 2009

Eric Watkins
OGJ Oil Diplomacy Editor

LOS ANGELES, June 12 -- Bolivia’s state-owned YPFB said state and private investment in oil and gas exploration and production will reach $1.05 billion in 2009.

YPFB said state-owned YPFB-Andina will invest $89 million, while YPFB-Chaco is projecting $55 million. Other firms’ budgets include Petroleo Brazileiro SA, $174.5 million; Repsol YPF SA, $109 million; BG Group PLC, $88 million; Total SA, $48 million; and Pluspetrol $26 million.

Meanwhile, in an effort to bolster YPFB’s income, the Bolivian government has issued a decree obliging local oil companies to send commission contracts for oil services to the state-run oil firm before other providers.

Under the decree, oil companies must first offer YPFB contracts for oil services or provision of equipment—regardless of the value of the contracts—and YPFB will have 10 days to accept or reject the offer.

Contact Eric Watkins at hippalus@yahoo.com.

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