French oil company Total has signed a farm out agreement with Gazprom for the transfer of a 20% interest in the Ipati and Aquio licenses in Bolivia.
The partnership on these licenses will be constituted by Total, Tecpetrol and Gazprom, subject to the Bolivian authorities’ approval.
Total has 60% interest in these licenses, while Tecpetrol and Gazprom hold 20% interest each.
In 2004, the group discovered the Incahuasi gas field in the Ipati license.
The discovery appraisal is under way with the drilling of the X-1001 well on the Aquio permit.
Both licenses are located 200km South of the city of Santa Cruz in the foothills of the Andean Cordilleras.
Following the signature in September 2008 of a cooperation agreement between Total, Gazprom and Yacimentos Petroliferos Fiscales Bolivianos (YPFB), aimed at negotiating the exploration terms and conditions of the Azero block, this agreement strengthens the partnership between Total and Gazprom, both in Bolivia and globally.