Boliva Needs More Than Gazprom To Boost Production

Russia's Gazprom has revealed plans to acquire a 20-24.5% stake in Petroandina, a 51:49 JV between Bolivia's Yacimientos Petrolíferos Fiscales Bolivianos (YPFB) and Petróleos de Venezuela (PdVSA), which aims to broaden Bolivia's areas of gas production. Gazprom stated its intention to farm into Petroandina in its Eurobond prospectus issued on April 17. The announcement follows a Memorandum of Understanding (MoU) on the matter signed in September 2008 and reiterated during Morales' visit to Moscow in February 2009.

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