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“The goal is for them to produce again, to operate here in Bolivia, to explore, and to have a strategic partnership,” Blanco told reporters, adding that Petrobras was open to supporting YPFB’s restructuring with its past crisis-management experience.
Blanco said the two sides agreed after a meeting on Wednesday to set up technical working groups starting next week to evaluate Petrobras’ renewed participation across the sector.
He did not provide investment figures or a timeline.
“I am not going to give figures. I will not be irresponsible. I never give amounts or exact dates,” Blanco said, adding that Bolivia was also seeking to work with other investors interested in the country.
YPFB President Sebastian Daroca also said a firm was expected to submit its final report next week on Bolivia’s oil and gas reserves through the end of last year.
He said the government planned to use the figures to discuss how it could boost output in coming years.
The report is being closely watched by analysts and industry groups because Bolivia has faced longstanding criticism over delays in publishing updated reserve data, leaving uncertainty over the size of the country’s remaining oil and gas resources.
Petrobras halted investments in Bolivia after former President Evo Morales nationalized the sector in 2006. Still, the Brazilian company has not been completely absent from Bolivian gas business, as it has been authorized to import Bolivian natural gas into Brazil through border entry points between the two countries.
Reporting by Daniel Ramos; Writing by Michael Susin in Barcelona; Editing by Aida Pelaez-Fernandez and Kylie Madry
Our Standards: The Thomson Reuters Trust Principles.
Source: Original Article
