Gazprom Signs Bolivian Exploration Deal

Russian state-controlled energy giant Gazprom has signed an agreement with Bolivian state energy company YPFB to assess natural gas exploration and production projects in the country.

The partnership between the two companies is expected to focus on the Sunchal Block in the natural gas-rich Tarija province in southern Bolivia.

Gazprom's investment will be announced within a year once studies are carried out in the area, according to Bolivian officials.

Bolivia has proven probable natural gas reserves of about 48 trillion cubic feet with daily production of around 40 million cubic metres per day.

By staff writer