Bolivian state-run oil company negotiates contracts with 6 oil companies interested in investigating in Bolivia. No offers from western powers are being evaluated.

La Paz / NationalTurk – Yacimientos Petroliferos Fiscales Bolivianos (YPFB) is negotiating contracts with six oil companies interested in investing in Bolivia, said Carlos Villegas, president of the state-run firm.

According to Villegas, Gazprom (Russia), YPF (Argentina), Petrovietnam, GTLI (Gas to Liquid Internacional), Ister and NIOC (National Iranian Oil Company) are negotiating the contracts in the framework of the plan for exploration and exploitation of hydrocarbons.

Of all the companies, the firm that is closest strike a deal with YPFB is Gazprom, which is considered one of the world’s major firms in the gas sector, Villegas said in statements published in La Paz on Wednesday.

Bolivian Oil and Gas production to be expanded

An executive delegation from the Russian firm on Monday began the last stage of talks to explore and exploit the Azero bloc, a high-power hydrocarbon area between the department of Chuquisaca and Santa Cruz.

Bolivian President Evo Morales recently expressed concern over the possibility that Argentina and Brazil, the only export markets for Bolivian natural gas, will stop importing the fuel.

In December, YPFB presented its hydrocarbon exploration plan for the 2011-2020 period, with 118 new areas. The objective is to increase natural gas and oil reserves.

The project will be developed in stages to conduct technical studies in an area of over 549,000 square kilometers (212 square miles).

Information from YPFB indicatess that the plan will require an investment of 1.8 billion dollars.

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