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Energy sectors of Bolivia and Brazil seek to attract investments

La Paz, Jun 21 (Prensa Latina) Bolivia and Brazil are preparing to promote investments focused on hydrocarbon exploration through a negotiated memorandum and working groups.

The Minister of Hydrocarbons and Energy, Franklin Molina, and his Brazilian counterpart, Alexandre Silveira, reaffirmed in a meeting the importance of energy cooperation and highlighted the mutual commitment to advance joint agendas promoting sustainable development and energy security in the region.

One of the points discussed was the negotiation of a memorandum for an Upstream plan (exploration, drilling, exploitation, and delivery to the refinery), and investments in the sector.

“This agreement is relevant since Upstream covers the first stages of oil and gas production, including the exploration and drilling of wells,” says a statement from the Ministry of Hydrocarbons and Energy, which adds that, by focusing efforts in this sector, both countries seek to ensure the continuous supply of hydrocarbons, essential for their economic and energy development.

Another key point is the creation of working groups to design mechanisms to attract investments into the energy sphere, which will allow the incorporation of advanced technologies, improve operational efficiency, and generate employment.

According to the Ministry of Hydrocarbons, these initiatives demonstrate proactive leadership and a long-term vision for energy development. “Cooperation with Brazil, a country with vast experience and resources in the energy sphere, can provide Bolivia with the necessary tools and support to maximize its hydrocarbon potential”.

Based on the Ministry’s statement, this dynamic partnership can contribute “to the stability and regional economic progress, creating a more favorable environment for all South American countries, with Bolivia as the main actor.”