Total seals deal with Gazprom on Bolivia gas fields

EFE Ingles |


La Paz, Jun 29 (EFE).- France's Total has sealed a deal to give Russia's Gazprom 20 percent of its rights to operate gas fields in southeastern Bolivia, state-owned oil company YPFB said.The contracts were notarized in La Paz on Friday, YPFB said in a statement.The gas deal was reached in 2010, signed in 2012 and approved by Bolivian lawmakers last year.Total will now own 60 percent of the Aquio and Ipati areas, while Argentina's Tecpetrol and Gazprom will each own 20 percent stakes, YPFB, which has controlled Bolivia's oil and gas industry since 2006, said.The contracts were finalized by YPFB CEO Carlos Villegas, Gazprom's general manager in Bolivia, Vladimir Burdakov, and Total's top executive in Bolivia, Jose Ignacio Sanz.The Aquio area, located between Santa Cruz and Chuquisaca provinces, covers 25,400 hectares (62,716 acres), while the adjacent Ipati area covers 61,375 hectares (151,543 acres).Total has several operating contracts in Bolivia and Gazprom signed a $130 million investment agreement with the French energy giant in August 2013 to explore 700,000 hectares (1.72 million acres) in the Andean nation. EFEja/hv

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer

Companies

Symbol Name Price Change % Volume
GRBG Green Bridge Indus Inc n/a n/a n/a 0

Comments

Emerging Growth

Breathtec BioMedical Inc.

Breathtec Biomedical Inc is a medical diagnostics company. It is engaged in developing & commercializing breath analysis devices for the early detection of infections & life threatening diseases including cancers,…

Private Markets

Ozobot by Evollve Inc

Ozobot is a world leader in compact super intelligent robots that entertain and educate through fun interactive gaming.

D-Wave

D-Wave Systems is the first quantum computing company. Its mission is to integrate new discoveries in physics, engineering, manufacturing, and computer science into breakthrough approaches to computation to help solve…