This YPFB version was published using machine translation.
La Paz, March 8 (AN/YPFB).- The Bolivian Fiscal Oil Fields project expects revenues of approximately $2,960 million by 2022 from the commercialization of natural gas, the Vice President of Administration, Contracts and Control announced today. the state oil company, Enzo Michelle.
“We estimate that we will close this year with a surplus, ending the year with more revenue from gas exports than expenses due to the import of liquids, the increase in the price of oil and the negotiations of new contracts. ‘export result in a positive balance of trade,’ the state oil company executive said, referring to a publication in a Santa Cruz newspaper that said oil revenues this year will reach $900 million, a figure that only corresponds to the estimated revenue from the signing of two natural gas export contracts recently signed with Brazilian companies.
Michel added that “ last year we reached 2,400 million dollars in revenue from the sale of natural gas with a lower price, currently the price increase and with production of approximately 42.00 MMmcd, we will close 2022 with more $2,960 million in revenue for this concept ”.
In 15 years of hydrocarbon nationalization, YPFB has generated $48,431 million in profits, resources that have been distributed to governorates, municipal governments and universities in the state system. In 2021, it reached 2,119 million USD. Revenues from the sale of natural gas are translated into oil revenues and consist of the Direct Tax on Hydrocarbons (IDH), royalties, patents and taxes and the participation of YPFB.
The exploration plan establishes an investment of $1,400 million, includes 21 exploration projects aimed at discovering 5 trillion cubic feet (TCF). Its objective is to replenish and increase natural gas reserves. Natural gas production currently reaches 42.93 million cubic meters per day (MMmcd).
“Thanks to the reactivation of the upstream, we sign new contracts, we carry out activities on our own to be able to increase the work of hydrocarbons, to have more investments to have production and greater reserves”, added the Vice President of Administration, Contracts and Oversight. from YPFB.
At the same time, the state oil company is promoting the biodiesel project to replace the import of liquids to produce green liquids, biodiesel biofuels that allow less imports.