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Argentina's Pluspetrol to invest $160 mn in Bolivia in 2014

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(Globalpost/GlobalPost)

La Paz, Nov 8 (EFE).- Argentine energy company Pluspetrol plans to invest some $160 million in 2014 to drill new wells and conduct seismic surveying in eastern Bolivia, according to Bolivian state-owned energy firm YPFB.

Pluspetrol Bolivia's exploration manager, Gustavo Vergani, discussed the investment projects Thursday at a forum on conventional and non-conventional gas resources in the eastern city of Santa Cruz.

He said Pluspetrol was in talks with YPFB to gain access to some areas of southern Bolivia's sub-Andean belt with the goal of increasing reserves and natural gas output, YPFB said in a statement.

Pluspetrol currently produces 2.5 million cubic feet of gas per day at the Tacobo, Tajibo and Curiche fields in eastern Bolivia.

YPFB is seeking to attract foreign investment in a bid to boost gas reserves, which the government says will last just 10 years at the current rate of consumption. Independent analysts, meanwhile, say the reserves will last only four years.

Bolivia currently exports 30 million cubic meters (1 billion cubic feet) of gas per day to Brazil and roughly 15 million cmd to Argentina.

http://www.globalpost.com/dispatch/news/agencia-efe/131108/argentinas-pluspetrol-invest-160-mn-bolivia-2014