Gazprom exiting one of its projects in Bolivia, terminates PSA in Uzbekistan

MOSCOW. April 7 (Interfax) - Gazprom is exiting one of its projects in Bolivia, where a deep but dry exploratory well was previously drilled.

The Azero license area is located in the southern part of Bolivia within the Central Pre-Andean oil and gas basin, where construction on an exploratory well at a depth of 5,830 meters was completed in 2020. "It was established that there was no oil and gas prospect in the target interval, and a decision was reached to liquidate the well," Gazprom's corporate publication said. "The company fulfilled its contractual obligations for geological exploration and gained unique technical and production experience," Gazprom EP International said regarding the project.

"In 2024, a decision was reached to withdraw from the contract," GP Exploration and Production Limited currently reports in its 2024 financial statement. The company remains a participant in the Bolivian Ipati and Akio projects.

JSC Gazprom Zarubezhneftegaz also reported that the production sharing agreement for further developing the Shakhpakhty field in Uzbekistan was terminated last year owing to expiration as of July 31, 2024. The procedures for liquidating the operating company are underway in accordance with the approved plans and in accordance with the law, Gazprom Zarubezhneftegaz said in its financial statement.