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Contract Type
partnership
CalgaryEnergyOil And GasDescription
Bolivia's state-run oil company signed a partnership agreement with Colombia's Canacol, representing an investment of up to US$ 270 million for hydrocarbon exploration and exploitation undertakings in the Ovai, Florida Este, Arenales, and Tita-Techi areas, all of them in the department of Santa Cruz. The initial investment amounts to US$ 30 million, which could exceed US$ 270 million in case of successful developments. With the new partnership, Bolivia's gas reserves are projected to increase by around 390.7 trillion cubic feet of gas (BCF). The revenues generated by the Petroleum Services Contracts will amount to around US$ 1.4666 billion in oil revenues benefitting municipalities, public universities, the National Treasury (TGN), and YPFB.