In collaboration with its partners, Petrobras estimates that it may invest $750 million to $1 billion, depending on the results achieved in the new area exploration.
Petrobras said that general lines for joint exploration project execution were defined in the Carohuaicho, Astillero and Cedro areas, with the possibility of the incorporation of a semi-public corporation. The companies have also signed an agreement for technical human resource qualification for Bolivia’s oil industry.
In a different agreement, Petrobras and YPFB defined that for volumes delivered to the internal market above 18% of the production derived from new projects; there will be a 50% price guarantee relative to the exports price.
An agreement was reached regarding the formula of payment for the liquids contained in the natural gas that Petrobras purchases from YPFB for a value between $100 million and $180 million per year, which the Brazilian firm had earlier agreed to pay.
