Bolivia's YPFB and other operators will pump almost $704 mln in oil projects this Year

The Bolivian state oil company YPFB, along with other operators, will invest $703,7 million in this year's investment plan, according to the company, which noted that almost three quarters of the plan will be spent on exploration and production.

According to a YPFB statement, 72% of the budget will go towards so-called "upstream" activities that are aimed at discovering and extracting oil and gas in the South American country.

YPFB (formally Yacimientos Petroliferos Fiscales Bolivianos) estimates that 28% of spending will be devoted to natural gas pipelines and other projects within the sector, including refining, marketing, and storage.

State-owned producer stated that it would provide 45%, or approximately $319 million of the investment plan. Its units will contribute 43%, or roughly $304 million.

The remaining 11% or approximately $80 million is accounted for by other operators such as Repsol, Petrobras, and Total Energies.

YPFB said that it expects the natural gas production to drop this year from a high of 45 mmcfd, which was reached in 2021. (Reporting and editing by Monica Machicao)

(source: Reuters)