Bolivia wants foreign investment for new pipelines
Tue, 13 October 2009
The Bolivian government wants $US11 billion to be invested in the country’s oil and gas industry over the next five years, and is hoping for foreign investors to produce a third of the money.
In a recent meeting between Carlos Villegas Quiroga, the President of Bolivia's state energy company, Yacimientos Petroliferos Fiscales Bolivianos, and the Argentine Planning Minister Julio de Vido, an agreement was made to upgrade the pipeline connection to Argentina.
According to Mr Villegas, Bolivia will build a 20 km pipeline from Margarita to Madrejones, on the Bolivia-Argentina border, at a projected cost of $US34 million. Argentina will build a 40 km pipeline from Madrejones to the Refinor refinery in Campo Duran, Argentina.
Bolivia nationalised its energy industry in 2006, but now wants more foreign investment. Mr Villegas said that even areas previously reserved for state exploration are now open to negotiation.
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