Gazprom and YPFB Discuss Development of Bilateral Cooperation

October 8, 2021 14:06
A working meeting between Vitaly Markelov, Deputy Chairman of the Gazprom Management Committee, and Vice President for Contract Management and Audit of the Bolivian state-owned oil and gas company YPFB took place on 5 October at Saint Petersburg International Gas Forum 2021. Sergey Tumanov, Managing Director of Gazprom EP International, and the company representatives also attended the meeting.
The sides discussed the current status and key aspects the ongoing Ipati and Aquio projects, and the prospective project of the Vitiacua area development in southern Bolivia. Apart from this, the terms of creation of a joint venture for the Bolivian gas marketing were discussed. The sides assessed the progress of the General Scheme for the Bolivian Gas Industry Development until 2040 developed and updated with the participation of the Gazprom EP International employees.


Background

The 10th Anniversary Saint Petersburg International Gas Forum is held in ExpoForum Convention and Exhibition Center on 5–8 October 2021.

Gazprom`s interests in Bolivian projects are represented by Gazprom EP International B.V. — a specialized company for implementation of overseas projects for prospecting, exploration and development of hydrocarbon fields. In 2018, Gazprom and the Bolivian state-owned oil and gas company Yacimientos Petroliferos Fiscales Bolivianos (YPFB) signed an Agreement on Strategic Association. The document defines the intercompany cooperation in exploration, gas production, and hydrocarbon transportation; development of the national oil-and-gas transport infrastructure and the NGV market; exchange of best practices and personnel training; as well as cooperation in science and technology.

In partnership with TotalEnergies (50%, project operator), Tecpetrol S.A. (20%), and YPFB (10%), Gazprom participates in development of the Ipati and Aquio oil and gas areas where the Incahuasi field was discovered. Produced hydrocarbons are supplied to both the domestic market and Argentina and Brazil.