Bolivia: Repsol CEO Meets Bolivian President, Confirms Investment Plans
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Thursday, 24 November 2011 |
Repsol CEO Antonio Brufau has confirmed the company’s substantial investment plans in Bolivia after a meeting with President Evo Morales. The men toured the construction works for the new gas processing plant in the Margarita field, which are part of the development plan located in the Caipipendi area of Bolivia.
The Caipipendi area, located in the department of Tarija in southern Bolivia, will see production capacity tripled from current levels of 3m cubic meters of gas a day to 9m in 2012 under phase one of the company’s development plan. The second phase will increase the daily output to 14m cubic meters of production from 2014 onwards.
Antonio Brufau reaffirmed Repsol’s commitment to Bolivia and an investment programme worth $640m in the country. President Evo Morales described the plans as “the most important investment underway in this sector” in the country. “Investment and private property are guaranteed and any investor not only has the right to recover their investment but also to profit from it,” he said, emphasising the positive relationship his Government has with Repsol.
PetrolWorld 24112011
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