PDVSA, YPFB Begin Studies for Northern E&P Ops

Venezuela's state oil company PDVSA and its Bolivian counterpart YPFB have begun studies on four blocks in northern Bolivia to reach an agreement on potential joint E&P activities, the latter's government news service ABI reported.

The studies will determine the amount of investment and the makeup of the prospective joint company called Petroandina, Comercio y Suministro, PDVSA president of Bolivian operations Miguel Tarazona said in the ABI report.

Bolivia's hydrocarbons minister Andrés Solíz Rada said last week he expected investment of some US$1.2bn for E&P works, primarily north of La Paz and in other non-traditional areas in the country.

Neither YPFB nor PDVSA Bolivia were available for comment on Wednesday.

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