|
|
|
|
Search: 
Latin American Herald Tribune
Venezuela Overview
Venezuelan Embassies & Consulates Around The World
Sites/Blogs about Venezuela
Venezuelan Newspapers
Facts about Venezuela
Venezuela Tourism
Embassies in Caracas

Colombia Overview
Colombian Embassies & Consulates Around the World
Government Links
Embassies in Bogota
Media
Sites/Blogs about Colombia
Educational Institutions

Stocks

Commodities
Crude Oil
US Gasoline Prices
Natural Gas
Gold
Silver
Copper

Euro
UK Pound
Australia Dollar
Canada Dollar
Brazil Real
Mexico Peso
India Rupee

Antigua & Barbuda
Aruba
Barbados
Cayman Islands
Cuba
Curacao
Dominica

Grenada
Haiti
Jamaica
Saint Kitts and Nevis
Saint Lucia
Saint Vincent and the Grenadines

Belize
Costa Rica
El Salvador
Honduras
Nicaragua
Panama

Bahamas
Bermuda
Mexico

Argentina
Brazil
Chile
Guyana
Paraguay
Peru
Uruguay

What's New at LAHT?
Follow Us On Facebook
Follow Us On Twitter
Most Viewed on the Web
Popular on Twitter
Receive Our Daily Headlines


  HOME | Bolivia

Oil Exploration Campaign Kicks Off in Bolivia’s Amazon Region

LA PAZ – Bolivian state-owned energy company YPFB has begun an oil exploration campaign in the northwestern Amazonian region of Pando, which is projected to contain some 50 million barrels of crude, or more than the country’s current reserve base of 34 million barrels.

President Evo Morales kicked off the campaign with a ceremony Wednesday in that region that was also attended by Hydrocarbon Minister Luis Alberto Sanchez and YPFB chief Guillermo Acha.

Chinese company Sinopec will conduct 2D seismic surveys over 400 days in the Madre de Dios basin, located in the municipalities of Sena and San Lorenzo, to determine the ideal sites for exploratory well drilling.

“Madre de Dios is one of the world’s most significant oil-generating reservoirs. All we’re doing now is pinpointing the pockets of crude,” Sanchez said.

YPFB plans to invest $48 million in the unprecedented crude exploration campaign in that Amazon region.

The region’s indigenous communities quickly approved the exploration work in legally required consultations, according to Morales, whose administration has encountered opposition to oil prospecting from Indians in other parts of the country.

YPFB is conducting intense crude exploration efforts because its 10.45 trillion cubic feet of natural gas reserves are projected to be exhausted in a decade at the current pace of consumption.

Morales has set a goal of transforming Bolivia into the “energy heart of South America” and sees exports of fuel and electricity to neighboring countries as crucial to that objective.

Under the fossil-fuel nationalization ordered by the leftist head of state in May 2006, YPFB controls the entire energy supply chain and grants private companies the rights to participate in oil and gas exploration and production activities.

 

Enter your email address to subscribe to free headlines (and great cartoons so every email has a happy ending!) from the Latin American Herald Tribune:

 

Copyright Latin American Herald Tribune - 2005-2015 © All rights reserved