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YPFB & YPFB Chaco Sign Exploration Contracts for Two Areas

Source: www.gulfoilandgas.com 1/16/2017, Location: South America

President Oilfield Fiscales Bolivianos (YPFB), William M. Acha and general manager of YPFB Chaco SA, Oscar Claros Dulon, signed two contracts for oil exploration services and exploitation in the Aguarague Centro and Itacaray areas, located in the traditional zone of Bolivia.

After signing these contracts, they will be submitted to the Plurinational Legislative Assembly for approval, within the framework of article 362 of the Political Constitution of the State.

Aguarague Centro
The Petroleum Services Contract for the Aguarague Centro area has a term of 40 years computable from its protocolization. This area is located in the department of Tarija, in a traditional area.

It has an area of ??49,125.00 hectares, where resources of approximately 0.59 trillion cubic feet (TCF) are estimated. If the expected commercial discovery is made, it is projected to invest in exploration and exploitation activities in the amount of US $ 175 million and expect a state oil revenue in the lifetime of the project of US $ 2,715 million.

Itacaray
This area is located in the department of Chuquisaca, in a traditional area. The Petroleum Services Contract for Itacaray has a term of 40 years computable from its registration.

It has an area of ??56,250.00 hectares, where resources of approximately 0.88 trillion cubic feet are estimated; Of the expected commercial discovery, it is projected to invest in exploration and exploitation activities in the amount of US $ 309 million and expect a state oil revenue in the lifetime of the project of US $ 3,664 million.

Through Laws No. 857 and No. 859 of November 28, 2016, the Plurinational Legislative Assembly within the framework of the Political Constitution of the State authorized Yacimientos Petrol?feros Fiscales Bolivianos, to sign oil service contracts for the exploration and exploitation of reserved areas In favor of YPFB, corresponding to the areas of Aguarague Centro and Itacaray with the company YPFB Chaco SA.

Petroleum services contracts for the exploration and exploitation of hydrocarbons are part of the actions that the state oil company is carrying out to promote the exploration of hydrocarbons throughout the national territory.

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