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Gazprom and Bolivia stepping up cooperation in oil and gas sector

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A working meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Evo Morales, President of the Plurinational State of Bolivia, took place today at the Company’s office in Moscow.

Working meeting between Evo Morales, President of Plurinational State of Bolivia, and Alexey Miller in Moscow

The parties expressed appreciation for the ongoing implementation of joint projects for hydrocarbon development in Bolivian territory and discussed the opportunities for increasing the output of the Incahuasi field. Special emphasis was placed on the joint plans for geological exploration in the promising Vitiacua oil and gas block.

The meeting participants noted the cost-effectiveness and eco-friendliness of natural gas compared to other fossil fuels and spoke about its potential in a variety of applications, reviewing the joint plans for NGV market development in Bolivia.

At the end of the meeting, a number of documents aimed at expanding cooperation between Gazprom and Bolivia in the oil and gas sector were signed in the presence of Alexey Miller and Evo Morales.

Vitaly Markelov, Deputy Chairman of the Gazprom Management Committee, and Luis Poma, Vice President for Contract Management and Supervision at Yacimientos Petroliferos Fiscales Bolivianos (YPFB), signed an Agreement of Strategic Cooperation. The document envisages joint efforts in a wide range of areas: geological exploration, gas production and hydrocarbon transportation across Bolivia, development of the national gas and oil transportation infrastructure and NGV market, exchange of experience and personnel training, and sci-tech collaboration.

Evo Morales (second right), President of Plurinational State of Bolivia, at working meeting with Alexey MillerAndrey Fick, Managing Director of Gazprom EP International B.V., and Luis Poma inked a Term Sheet regarding the contract for exploration and production in the Vitiacua oil and gas block. The signing will allow the companies to start drafting the main design documentation.

Alexey Tyupanov, CEO of EXIAR, and Luis Alberto Sanchez, Minister of Hydrocarbons and Energy of Bolivia, signed a document to secure financing for supplies of gas-fueled machinery and equipment produced by Russian manufacturers.

In addition, Evo Morales visited the Central Control Room of Gazprom and viewed a presentation on the operation of Russia’s Unified Gas Supply System – the largest gas transmission network in the world.

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