LA PAZ – Investment in Bolivia’s hydrocarbon sector by the government and private companies totaled $2.05 billion in 2014, the largest amount in the last eight years, state-owned energy firm YPFB said in a statement.
Of that total, $1.19 billion was invested in exploration and production, YPFB’s interim CEO, Guillermo Acha, was quoted as saying.
An additional $433 million was invested in natural gas liquids separation and industrialization plants, he added.
“These investments allowed us to increase production of natural gas and liquid hydrocarbons, enabling us to meet our commitments to the domestic market and export to Brazil and Argentina,” Acha said.
Last year’s investment total was 11.7 percent higher than the $1.84 billion invested in 2013.
Some $9.1 billion has been invested in the sector since 2006, when President Evo Morales nationalized the hydrocarbons industry, YPFB said.
About a dozen foreign energy companies, including Spain’s Repsol, Brazil’s Petrobras and France’s Total, operate in Bolivia under government supervision.
The state-owned energy firm said natural gas production has increased from an average of 35.72 million cubic meters per day (1.26 billion cubic feet per day) in 2006 to 60.15 million cmd (2.12 billion cfd) in 2014.