Bolivia: Bolivian state oil company and Petrobras strike exploration deal

Bolivian state oil company YPFB, has announced that it will sign a series of three exploration contracts with Brazilian giant Petrobras. The deal, to be signed on Tuesday, will bring the search for oil to the Gran Chaco and Arce provinces.

The total investment for the contracts will exceed $800 million dollars, said Hydrocarbons and Energy Minister Luis Alberto Sánchez. Seismic and geological exploration activities are expected to begin by the end of the year.

President Evo Morales will be present during the signing ceremony as part of his tour of the Tarija area.

Full content: El Deber

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