La Paz, May 1 (Prensa Latina) The Chinese company Eastern Petroleum and gas companies Gas SA Bolivia plans to invest in $ 230 million, announced today the Bolivian Ministry of Hydrocarbons and Energy on its website.
The Asian firm their intentions ahead of exploration, exploitation, development and production of hydrocarbons in the area reserved for Sanandita, Tarija (south).
Eastern went into Bolivia in 2008 under the name Eastern Petrogas Limited, as part of the MNC East Investment Resources Group, present in China, Europe, South America and Asia, among other areas.
The head of legal department of the consortium, Liliana Salvatierra said they already have adopted the convention of study and the model contract.
We're just waiting for the acceptance of Plurinational Assembly (Parliament) to start our operations in Sanandita, which is the area of interest and have asked, he said.
At the moment its capital in the Andean nation is 50 million bolivianos (about 7.15 million dollars) and has 25 employees in the administrative area, but quadrupled that number expected to start operations again.
The Chinese company proposed to the state Oilfield Fiscales Bolivianos (YPFB) to explore in the area of Sanandita and then continue with the exploitation of this field for 40 years in Joint Stock Company.
For its part, the operations manager of the company, Oscar Martinez, said that intend to invest $ 4.8 million in the exploration of two wells, for which already have two rigs, one mobile and one static.
The Asian firm their intentions ahead of exploration, exploitation, development and production of hydrocarbons in the area reserved for Sanandita, Tarija (south).
Eastern went into Bolivia in 2008 under the name Eastern Petrogas Limited, as part of the MNC East Investment Resources Group, present in China, Europe, South America and Asia, among other areas.
The head of legal department of the consortium, Liliana Salvatierra said they already have adopted the convention of study and the model contract.
We're just waiting for the acceptance of Plurinational Assembly (Parliament) to start our operations in Sanandita, which is the area of interest and have asked, he said.
At the moment its capital in the Andean nation is 50 million bolivianos (about 7.15 million dollars) and has 25 employees in the administrative area, but quadrupled that number expected to start operations again.
The Chinese company proposed to the state Oilfield Fiscales Bolivianos (YPFB) to explore in the area of Sanandita and then continue with the exploitation of this field for 40 years in Joint Stock Company.
For its part, the operations manager of the company, Oscar Martinez, said that intend to invest $ 4.8 million in the exploration of two wells, for which already have two rigs, one mobile and one static.
