YPFB offers 15 blocks in Bolivia

By Godang Sitompul

YPFB Bolivia, Bolivian government-owned oil and gas firm, is offering 15 oil and gas blocks in the country to companies across the world, including Indonesia-based ones.

"We have a high level of legal certainty that guarantees attractive returns of investment in Bolivia," said Roberto Cuadro Arenas, chairman and executive president of YPFB Bolivia.

He was speaking to reporters on the second day of IPA Convention and Exhibition in Jakarta Thursday.

YPFB is especially interested in engaging a cooperation with state owned oil and gas PT Pertamina.

"We offer the blocks to Pertamina. We are inviting Pertamina to come and invest in Bolivia."

Under Bolivia's laws, 51 percent of ownership in oil and gas firm has to be controlled by the government, or state owned firms. "The business model in Bolivia is more or less similar to that of Indonesia, with a production split of 18:82 with the government taking the 82 percent," added Roberto.

Editing by Dadan Wijaksana