The 4,764 square-kilometre Azero block is located in a new gas-rich province in the Andes foothills in southeastern Bolivia. It is next to the Ipati and Aquio blocks, where Total made a major natural gas find in 2004.
The agreement is a further demonstration of Total’s commitment to working with national oil companies, both within and outside of their borders.
Total in Bolivia
The agreement with YPFB and Gazprom strengthens the position of Total, which has operated in Bolivia since 1996. The Group holds stakes in six licenses in Bolivia: two production licenses, San Alberto and San Antonio (15%), which supply natural gas to Brazil and the domestic Bolivian market; and four exploration licenses where two discoveries have already been made; Block XX West (75%, operator), Aquio and Ipati (80% each, operator) and Rio Hondo (50%).
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