Bolivia and Brazil intend to expand their cooperation in exploration and production of natural gas

Bolivia hopes to attract new investment into the oil and gas sector thanks to agreements with the Brazilian state-owned oil and gas company to resume operations in the country. The parties intend to step up joint projects in the field of natural gas exploration and production. This was reported by Visión 360, a partner of TV BRICS.

Bolivia’s Minister for Hydrocarbons and Energy, Marcelo Blanco, stated that cooperation with the Brazilian company would help step up the search for new gas fields and create the conditions for increasing production volumes in the long term.

The relevant agreements were reached following a meeting between the presidents of Bolivia, Rodrigo Pasa, and Brazil, Luiz Inacio Lula da Silva. The heads of state instructed the state-owned oil and gas companies of both countries to speed up negotiations on expanding cooperation in the gas sector.

Brazil remains one of the key buyers of Bolivian natural gas. The implementation of new joint projects is seen as an important step towards strengthening the energy partnership between the two countries.