Bolivian deputies approved the entry of Gazprom International and the project Ipati Aquio

The Chamber of Deputies of the National Congress (lower house of parliament) approved a bill to Bolivia transferable shares of French company Total EP Bolivie in the project by block Hypatia (Ipati) and Akiyo (Aquio) in favor of Gazprom International.

Commenting on the event, general manager of the branch of Gazprom International in Bolivia Vladimir Burdakov stressed that such an important step of entering into the project.

"I hope that in the near future approval procedure agreements Bolivian government authorities will be completed, and the group" Gazprom "will become a full partner of the French Total EP Bolivie Tecpetrpol Bolivia and Argentina in this promising project" — said V.Burdakov.

License blocks Hypatia and Akiyo are located in the southern part of Bolivia's oil and gas basin Subandino Sur. The right to hydrocarbon exploration and development in these blocks since 2003 owned by the French Total EP Bolivie (80%, operator) and Argentine Tecpetrpol Bolivia SA (20%).

In September 2010, an agreement was signed on the Assignment of a 25% stake in Total EP Bolivie blocks Hypatia and Akiyo in favor of Gazprom International. After approval by the Parliament of Bolivia signed agreements and their entry into force, the share of Gazprom International participation in the project will be 20%, Total EP Bolivie — 60% and Tecpetrpol Bolivia — 20%.

Currently the project is in an active stage of implementation. The field is to be commissioned in 2016.

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