YPF, YPFB pen Bolivia exploration deals

Jun 12, 2013 12:00 AM

Argentina's state oil firm YPF and its Bolivian counterpart YPFB signed agreements whereby the former will explore for conventional and unconventional (shale gas) resources in Bolivia.

Included were three agreements allowing YPF to explore the southern Bolivia areas of Irenda and Charagua (conventional), as well as Abapó (unconventional), YPF said.

Under a previously established MOU, the state firms also signed a two-year technical cooperation agreement allowing for the exchange of training and experience in the exploration and exploitation of conventional and unconventional resources.

"We've detected shale gas in Bolivia and Argentina has vast experience and technological knowledge, therefore we'll coordinate joint actions to begin shale gas exploration in the country," YPFB president Carlos Villegas said.

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