Gazprom to continue developing new areas in Bolivia jointly with Total - company

MOSCOW, April 9. /TASS/. Gazprom is going to continue development of oil and gas fields in Bolivia in cooperation with the French Total, the Russian gas giant said on Thursday after the meeting between Gazprom’s CEO Alexei Miller and Total’s President Patric Pouyanne. Gas pools of Ipati and Aquio blocks in Bolivia are the case in point. Work is currently underway there to prepare wells and associated infrastructure for the beginning of commercial production in 2016, the company said. The joint exploration project of hydrocarbon pools is implemented on the Azero block. "According to exploration data, Northern Inkawasi and Ilinchupa appear to be the most promising targets on the contracted area," Gazprom said. "Considering the natural gas consumption growth in Bolivia, the parties underscore prospects of exploring new area in the region," the Russian company said. Bolivia’s natural gas reserves are the third largest in Latin America after Venezuela and Trinindad and Tobago. Proved reserves of the natural gas in Bolivia are around 296 bln cubic meters. Gazprom acquired the stake in Ipati and Aquio Blocks under the farmout agreement with Total in 2010. The joint exploration agreement for the Azero block was signed in 2008. Read more