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Bolivia's YPFB Allocates Majority of 2024 Investment Budget to Hydrocarbon Exploration

Entity
Yacimientos Petrolíferos Fiscales Bolivianos (YPFB)
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UserPic
Kokel, Nicolas
2/2/2024 7:03 AM

In a strategic move, Bolivia's YPFB intends to dedicate 53% of its 2024 investment budget, totaling approximately $159 million, to various hydrocarbon exploration projects. The substantial investment will be distributed across 22 initiatives, all aimed at reversing the decline in natural gas production that initiated in 2015. Notably, the company's production has witnessed a significant decrease, dropping from 56.6 million cubic meters/day in 2016 to 31.9 million cubic meters/day in 2023.