Russia, Bolivia preparing intergovernmental agreement on cooperation in oil and gas sector

MOSCOW. Feb 21 (Interfax) - Russian Energy Minister Nikolai Shulginov and Bolivian Hydrocarbons and Energy Minister Franklin Ortiz on the sidelines of the Gas Exporting Countries Forum (GECF) have discussed cooperation in the area of exploration and production of hydrocarbons, the press service of Russia's Energy Ministry said in a statement.

"In order to create favorable conditions for implementing joint projects for the geological exploration, production, transportation, processing, refining, storage and sale of oil and gas in Bolivia, we have prepared a draft intergovernmental agreement on cooperation in the oil and gas sector. We look forward to discussing the document at the upcoming third meeting of the Russian-Bolivian Intergovernmental Commission on Trade and Economic Cooperation this year," Shulginov was quoted as saying in the statement.

Cooperation between the two countries in the area of energy is also noted as being promising in terms of developing nuclear energy. For example, construction of the Center for Nuclear Research and Technology is ongoing in Bolivia.