Total, Gazprom and YPFB Sign Cooperation Agreement to Explore Azero Block in Bolivia

Source: www.gulfoilandgas.com 9/19/2008, Location: South America

Total, Gazprom and Yacimentos Petroliferos Fiscales Bolivianos (YPFB) signed a cooperation agreement to explore the Azero block within the framework of a joint venture company in which Total and Gazprom will own equal stakes.

The 4,764 square-kilometre Azero block is located in a new gas-rich province in the Andes foothills in southeastern Bolivia. It is next to the Ipati and Aquio blocks, where Total made a major natural gas find in 2004.

The agreement is a further demonstration of Totalís commitment to working with national oil companies, both within and outside of their borders.


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