LA PAZ Aug 1 Russia's Gazprom and
France's Total signed a $130 million agreement with
Bolivia's state energy company YPFB on Thursday to develop a
natural gas area in the southeastern part of the Andean nation.
YPFB will have a 55 percent stake in Azero, an area of
785,625 hectares in the departments of Santa Cruz and
Chuquisaca, said the firm's President, Carlos Villegas.
Bolivia has proven natural gas reserves of 11.2 trillion
cubic feet (TCF), according to YPFB. Leftist President Evo
Morales nationalized the country's energy sector in 2006.
YPFB expects some $500 million investment in the sector per
year between 2013 and 2017.