The agreement follows more than a week of civil unrest by local residents demanding increased government investment and job creation.
The deal also establishes the creation of an office of the Petroandina JV made up of Bolivia's state oil company YPFB and its Venezuelan counterpart PDVSA.
The new offices will form part of government plans to restructure the hydrocarbons sector.
The government also agreed to construct a US$100mn gas liquids separation plant in Camiri with the capacity to produce 1,000t/d of LPG, ABI said in a separate report.
YPFB previously announced plans to develop with PDVSA a US$100mn plant in Yacuiba, which would process 300Mf3/d (8.5Mm3/d) of natural gas to produce 309t/d of LPG and 854b/d natural gasoline. A similar project would follow.
Camiri residents originally staged a civil strike but then took over the installations of local gas transporter Transredes and local distributor Compania Logistica de Hidrocarburos de Bolivia (CLHB). The takeover resulted in losses of US$35,000 an hour to the state.
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