YPFB, Gazprom Begin E&P Partnership Talks

Bolivia's state hydrocarbons company YPFB and Russian oil and gas firm Gazprom have begun talks to create a joint E&P company, the former country's state news agency ABI quoted YPFB president Guillermo Aruquipa as saying.

The partnership would be the third hydrocarbons company created in Bolivia under President Evo Morales' new energy policy following the creation of YPFB Refinacion and YPFB Petroandina.

The Gazprom initiative would perform E&P in the Aguarague, Inau Tiasia and Inigawi areas in Chuquisaca, Tarija y Santa Cruz departments.

In related news, Aruquipa said that the government will announce soon the creation of new partnerships with state companies from other countries.

"Within a month, we will begin the creation of a fourth company in partnership with YPFB. We have had various proposals," the official said.

"Insofar as we don't have the financial and technical capacity, we have chosen to work in this manner. In addition, the other companies will transfer to us the technology and technical training for personnel," according to Aruquipa.

YPFB has 33 areas reserved for E&P, four of which have been assigned to YPFB Petroandina, a JV with Venezuela's state oil firm PDVSA.

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