Bolivia Signs Audit Contract for Petrobras Fields

Bolivia's hydrocarbons ministry has signed a contract with local consultancy Consult Sistem to audit the Colpa and Caranda fields operated by the Argentinian Petrobras Energia (PE) (NYSE: PZE) operating unit of Brazil's federal energy company Petrobras (NYSE: PBR).

Consult Sistem was the only firm of seven that purchased the audit reference terms to submit an offer, the ministry said in a statement.

Consult Sistem will carry out the audit for 2.56mn bolivianos (US$320,200), according to a previous ministry statement.

The audit is designed to determine the investments made, amortizations, operating costs and profitability of the fields to serve as the basis for negotiating a new contract with PE.

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