The commission will be presided over by state oil company YPFB president Jorge Alvarado as well as the deputy minister of lands Alejandro Almaraz and the deputy minister of natural resources and environment Juan Carlos Iporre. The commission will verify the magnitude of the environmental damages and quantify compensation for the indigenous communities that live in the area.
Bolivia's government and YPFB are currently meeting with Repsol YPF officials regarding future production in the country. However, a YPFB spokesperson told BNamericas that the topic of the Margarita field will not be addressed in these discussions.
Through its Maxus subsidiary, Repsol YPF owns 37.5% of the Caipipendi block and is the operator, while the Bolivian unit of UK oil company BG (NYSE: BG) owns 37.5% and Argentine oil company Pan American Energy owns 25%, according to a previous BNamericas report.
About Business News Americas: Business News Americas is a multilingual news and business information service that covers the most important original stories in 11 different business sectors throughout Latin America everyday. Visit BNamericas to access our real-time news reports, 7-year archive, Fact File company database, and latest research reports. Click here for a Free two week trial to our Latin America Oil & Gas information service.
Most Popular Articles
From the Career Center
Jobs that may interest you