16 Nov 2010 14:26

Kudryashov to be on Russian-Bolivian intergovernmental commission

MOSCOW. Nov 16 (Interfax) - Russian Deputy Energy Ministry Sergei Kudryashov has been tapped to head the Russian side of a bilateral intergovernmental trade and economic cooperation commission with Bolivia, as per a directive signed by Prime Minister Vladimir Putin on November 11.

Gazprom is planning operations in Bolivia. The company signed an agreement with Total of France concerning the acquisition of a stake in a project for geological prospecting Bolivia's Ipati and Akiyo gas fields.

After the Bolivian government gives the go-ahead, Gazprom (Gazprom EP International B.V.) will have a 20% chunk of the project share capital, Total - 60%, and TecPetrol of Argentina - 20%.

The project members plan to do joint prospecting and development at the blocks. Initial projections have natural-gas extraction at the deposits beginning in 2013.

The Ipati and Akiyo license blocks are located in southern Bolivia in the Subandino oil and gas basin at the foothills of the Andes Mountains. Gazprom evaluates reserves at 176.3 billion cubic meters of C1+C2 natural gas and 14.8 million tonnes of gas condensate.

The Gazprom group and Total are also wrapping up negotiations with Brazil's state oil and gas company YPFB over a joint project at the Asero gas field.