2014-04-02 11:41:01 - Bolivia Oil and Gas Report Q2 2014 - a new market research report on companiesandmarkets.com
We currently expect hydrocarbons production to continue its upward trajectory in Bolivia over the medium term; however, we are pricing in a slowdown in growth toward the end of the decade. Namely, while the country´s oil and gas sector has largely weathered broader concerns related to the business environment, the threat of resource nationalism remains a risk, as does a fairly weak reserve position, encouraging a more tempered long-term outlook. Of the two hydrocarbons, we believe gas has a brighter future, with the redevelopment of producing fields and increased investment into new exploration to bolster output. With regards to liquids, condensate volumes from gas production presents upside potential and we note significant short-term growth from the bringing online of natural
gas liquids separators. We believe though, that maturing crude fields suggest potential for a slowdown in growth over the longer term.
We highlight the following trends and developments in Bolivia´s oil and gas sector:
- In late 2010, Bolivia was rocked by a near disastrous gas reserves scandal, with a report presented by USbased consultant Ryder Scott putting reserves at around a third of the level previously cited in official estimates. That said, although still quite modest we believe the future may be somewhat brighter. We hold a far more cautious stance than state-owned Yacimientos PetrolÃferos Fiscales Bolivianos (YPFB) on the country´s reserve position. However, we also acknowledge that a steady stream of investment suggests growth potential over the medium to long term, such that we could revise up our forecasts more noticeably over the coming quarters.
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