La Prensa reports:
OIL EXPLORATION ADVANCES
Hydrocarbons Minister, Luis Alberto Sánchez, reported yesterday [02/28/2015] that oil exploration in the country advances, especially in “the Carohuaicho 8A, 8B and eastern areas, which will invest about $278 million, which will give a boost to hydrocarbon exploration in the country”. [The postal stamps shown below, are from the 60s, they commemorate the exploration efforts of that time. Between them and what was discovered in the 70s, total over 80% of all the oil revenues this ochlocracy government has been spending, from those findings. That is, the coca-grower and their acolytes brag about nationalization, production, economic success… reality shows a decade lost under this government and over $150 billion dollars wasted!]
He explained that in the coming days the draft law will be sent to the Plurinational Legislative Assembly for approval of the “oilfield services’ contracts for the exploration and exploitation of the areas reserved for YPFB, corresponding to the Carohuaicho 8A, Carohuaicho 8B and Oriental areas”. 8A Carohuaicho area is located in the department of Santa Cruz, in the towns of Vallegrande, Gutierrez and Charagua, with a potential 0.35 trillion cubic feet.
In my opinion, there is no real investment available. The magnitude and the experience in oil exploration, worldwide and over a hundred years of oil prospecting, makes me say this.
Current Bolivia government has done its best to scare away serious investors, its demagogue and ochlocracy is just pursuing their relentless cheap propaganda to perpetuate themselves in power.
One important issue to monitor this government is that no oil exploration takes place inside the National Parks areas. Those areas must remain protected.