Two Consultancies Submit Bids for Bolivian Gas Field Audits

Bolivian consulting firms Data Consult SRL and Petroconsul have submitted bids to audit the San Antonio and San Alberto mega gas fields, government news service ABI reported.

Petroconsul proposed to audit only the San Alberto field, while Data Consult presented proposals for both, ABI said.

The audits will determine the investments made, amortizations, operating costs and profitability in order to serve as the basis for negotiations of new contracts with companies operating the blocks.

Both blocks are 50%-owned by Brazil's federal energy company Petrobras (NYSE: PBR), 15% by France's Total (NYSE: TOT) and 35% by local company Andina, in which Spanish oil major Repsol YPF (NYSE: REP) holds a 50% stake.

A commission will analyze the proposals and recommend to the hydrocarbons ministry by Monday which consulting firm is best qualified to carry out the audits.

The ministry will award the audits by Tuesday, a spokesperson from the ministry told BNamericas.

The fields are the only two gas fields in Bolivia that produced more than 100 million cubic feet a day (Mf3/d) of gas in 2005. As a result, the fields are subject to 32% participation by Bolivia's state oil company YPFB plus a 32% hydrocarbons tax (IDH) and 18% for royalties and participations until contracts are renegotiated as decreed in the May 1 nationalization.

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