July 5, 2022

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Bolivia, Rusia, colaboración, hidrocarburos

Hydrocarbons from Bolivia will contribute about $3 billion

“Currently, with increased prices and with a production of about 42 million cubic meters per day (MMmcd), we are approaching 2022 with more than two thousand 960 million (dollars) in revenue for this concept,” confirmed Enzo Michel, Vice President of Management, Contracts and Oversight for the company.

The Director emphasized that YPFB expects a surplus at the end of the year due to a greater inflow of profits from exports compared to outflows earmarked for importing liquids.

He commented that the current price of oil and negotiations on new foreign sales contracts are translating into a positive trade balance.

He added that in 2021, sales amounted to $2.4 billion due to the sale of natural gas at a lower price.

However, he commented, the increase in prices and production by about 42 million cubic meters will lead to the planned shutdown.

Three decades after the nationalization of hydrocarbons under former President Evo Morales, the YPFB made a profit of 48,431 million dollars, which was redistributed to provincial governments, mayors and state universities, according to the sources. .

A prospectus from this institution notes that the exploration plan anticipates an investment of $1.4 billion in 21 projects aimed at discovering five trillion cubic feet (TFC, according to the technical terminology of the sector).

In this way, the goal is to replenish and increase natural gas reserves.

The Vice President commented that at the moment they are signing new contracts and increasing their activity themselves to double the management of hydrocarbons, and they have more investments to increase production and reserves.

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At the same time, YPFB promotes a biodiesel development project to replace the import of liquids and green fuels from this source to reduce imports.

Canacol Energy Colombia SA.S this week signed a contract with YPFB for seven gas wells in the country, worth $94 million.

YPFB President, Armin Durgathen, confirmed in statements to the press that “this signing means an important investment that is considered to be the drilling of seven wells, one of which is exploratory.”

Expressing that 2022 is the year of exploration and economic revitalization of the country, Dorgathen reported that the understanding includes the Arenales region, located in the municipalities of Charagua and Cabezas.

rgh / jpm