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  HOME | Bolivia

Bolivia Approves Total Giving Gazprom Stakes in Gas Fields

LA PAZ – The Chamber of Deputies has approved changes in the operating contracts held by French oil major Total for two gas fields in eastern Bolivia, opening the way for Russia’s Gazprom to acquire stakes in the fields, officials said Tuesday.

Both the Energy Ministry and the Chamber of Deputies’ press office confirmed the change to the contracts.

Lawmakers approved the contract modifications during a session on Monday night.

Gazprom reached an agreement with Total and Argentina’s Tecpetrol in 2010 to acquire a 20 percent stake in the Aquio block and the adjacent Ipati well.

The deal, however, required the approval of Bolivian authorities.

“With these new contracts, Total is surrendering 25 percent of its stake in the contract, that is, it will keep 60 percent of the total interest. Tecpetrol retains its 20 percent (stake) and Russia’s Gazprom enters with a stake of 20 percent in both areas,” Energy Minister Juan Jose Sosa said. EFE


 

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