
President Evo Morales’ government has offered to reimburse 100% of the cost of successful exploratory drilling in Bolivia by private oil and natural gas companies, state-owned energy company YPFB announced this week.

Bolivia plans to invest 1.73 billion US dollars in the energy industry in 2011, focusing on gas to ensure adequate production to supply Argentina and Brazil, as well as the domestic market, the head of state-owned oil company YPFB, Carlos Villegas, said.