Bolivia Reaches Preliminary $2.5B Oil & Gas Investment Deal

Source: Reuters 2/26/2018, Location: South America

Bolivia’s state-run oil company YPFB signed a memorandum of understanding with Dubai-based Kampac Oil and London-based investment office Milner Capital for oil and gas exploration and production, Bolivian President Evo Morales said.

Under the terms of the memorandum, the two companies would invest $2.5 billion in the Madre de Dios basin in northern Bolivia, which has the potential to produce 4 billion barrels of oil and 12 trillion cubic feet of gas. Kampac would invest $500 million and Milner would invest $2 billion.

“These agreements signed with Kampac Oil, based in Dubai, and Milner Capita, based in London - new partners that are joining our exploration and production efforts - show that Bolivian norms give legal security to foreign companies,” Morales said in a post on Twitter announcing the deal.

The deal includes investment to search for hydrocarbons in exploratory fields and to increase production in mature fields, Jose Morao Patino, partner and head of Latin America at Milner Capital, said at an event marking the deal in Santa Cruz, Bolivia.

Landlocked Bolivia is South America’s top natural gas exporter, but contract re-negotiations with neighboring Argentina and Brazil as well as declining reserves and production could threaten its economy, which has grown at one of the fastest rates in the region in recent years.


Morocco >>  8/9/2022 - Sound Energy, the transition energy company, is pleased to provide an update on the Phase 2 development financing of its Tendrara Production Concessio...
United Kingdom >>  8/8/2022 - The Operator of PEDL241, Egdon Resources U.K. Limited, has filed an appeal on behalf of the Joint Venture partnership against Lincolnshire County Coun...

Sudan >>  8/1/2022 - Firstly, I would like to start with an apology for the late delivery of the latest quarterly CATFLAP. We have been busy working on a number of opportu...
Colombia >>  7/29/2022 - Petrobras confirms the discovery of natural gas accumulation in the Uchuva-1 exploratory well, drilled in deep waters of Colombia, 32 kilometers off t...

Ireland >>  7/29/2022 - Europa Oil & Gas, the AIM traded UK, Ireland and Morocco focused oil and gas exploration, development, and production company, has announced that the ...
United Arab Emirates >>  7/29/2022 - Abu Dhabi National Oil Company (ADNOC) announced today a second discovery of natural gas resources in the first exploration well in Abu Dhabi’s Offsho...

Related Categories: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  Food Supplies  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Unskilled Labors  Utility Systems  Waste Disposal  Water Supply Services  Welding Products/Services 

Related Articles: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Utility Systems  Waste Disposal  Water Supply Services  Welding Products/Services 


Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.