South America / GoM

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Summary | Profile

Country profile: Bolivia

Location: Central South America, southwest of Brazil
Climate: varies with altitude; humid and tropical to cold and semiarid
Terrain: rugged Andes Mountains with a highland plateau (Altiplano), hills, lowland plains of the Amazon Basin
Size: 1098580 sq. km total (Land area: 1084390 sq. km  Water area: 14190
Population: 9,247,816 (July 2008 est.)
Languages: Spanish (official), Quechua (official), Aymara (official)
Government: republic
Capital city: La Paz
Legal system: based on Spanish law and Napoleonic Code; has not accepted compulsory ICJ jurisdiction
Currency: boliviano (BOB)

Country profile

Bolivia has the second-largest proven natural gas reserves in South America behind Venezuela (see chart in Natural Gas section). The country’s most important exports are natural gas, minerals, and agricultural products. Earnings from natural gas exports are an important driver of Bolivia’s economic growth. In May 2006, President Evo Morales embarked on a campaign of resource nationalism, including the re-nationalization of all hydrocarbon resources and the renegotiation of export contracts with Argentina and Brazil. The impact of this campaign remains unclear: in the short-term, Bolivia has been able to secure higher prices for its natural gas exports, but foreign investment has been slow to recover to its former levels.

Energy production and consumption

Oil Gas
Production: 41,570 bbl/day (2007 est.) 12 billion cu m (2006 est.)
Consumption: 31,500 bbl/day (2007 est.) 1 billion cu m (2006 est.)
Exports: 18,500 bbl/day (2007 est.) 10 billion cu m (2006 est.)
Imports: 8,600 bbl/day (2007 est.)  
Reserves: 440 million bbl (1 January 2006 est.) 651 billion cu m (1 January 2006 est.)
Major fields:

Bolivia - recent news

15 Oct 18
Bolivia: Echo Energy signs Technical Evaluation Agreement with YPFB for the Rio Salado Block
Echo Energy has announced the signature of a Technical Evaluation Agreement (TEA) for the Rio Salado Block, onshore Bolivia, directly between Echo Energy and YPFB.
31 Aug 18
Bolivia: Echo Energy signs new TEA for the Rio Salado licence, onshore Bolivia
Echo Energy has announced the signature of a Letter of Intent ('LOI') to sign a new one year Technical Evaluation Agreement ('TEA') with YPFB over the Rio Salado licence area, onshore Bolivia.
12 Mar 18
Bolivia: Echo Energy provides update on its technical work programme in Bolivia
Echo Energy has provided an update on its technical work programme in Bolivia, where it has been working to progress the exploration opportunity in Huyaco and Rio Salado.
28 Feb 18
Bolivia reaches preliminary $2.5 billion oil and gas investment deal
Bolivia's state-run oil company YPFB signed a memorandum of understanding with Dubai-based Kampac Oil and London-based investment office Milner Capital for oil and gas exploration and production, Bolivian President Evo Morales said on Monday.
22 Nov 17
Bolivia signs $1.6 bln in gas deals with Repsol and Petrobras
Bolivia’s government has signed natural gas development deals with Spain’s Repsol, Brazil’s Petrobras, and Royal Dutch Shell that are expected to bring nearly $1.6 billion in investment into the sector and boost output, President Evo Morales said at an industry summit.

Bolivia - more news

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