Petroandina To Spend US$888.3mn On Bolivian E&P

July 2008 | Corporate Financing News Alert

Petroandina, a joint venture (JV) between Bolivian and Venezuelan state-owned energy companies Yacimientos Petrolíferos Fiscales Bolivianos (YPFB) and Petroleós de Venezuela (PdVSA) has announced plans to spend US$888.3mn on oil and gas exploration and production (E&P) projects in Bolivia. Despite holding Latin America's second-biggest proven natural gas reserves, behind Venezuela, investment in Bolivia has suffered from President Evo Morales' re-nationalisation of the country's hydrocarbon resources. While the investment climate has soured for international oil companies CFW sees investment opportunities (IOCs)in Bolivia for national oil companies (NOCs) - especially those from states which share ideological values with Morales.

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