The investment relates to hydrocarbons exploration and the installation of two gas-liquids separation plants.
The exploration will be conducted in four blocks in southern Bolivia, the most important of which is in Chuquisaca and Tarija departments.
The exploration works will require 2-3 years before results can be reported and the companies expect news at the end of 2008 or the beginning of 2009.
Investments required for exploration totals US$1 billion, while the remainder would be directed toward the gas-liquids separations plants, Bolivian paper Los Tiempos reported.
The first gas-liquids separation plant is expected to begin operations in the second half of 2008 or the beginning of 2009.
The companies previously announced plans to build the US$100 million Yacuiba plant that would process roughly 300Mf3/d (8.5Mm3/d) of natural gas to produce 309t/d of LPG and 854b/d natural gasoline, with a similar project following afterwards, BNamericas previously reported.
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