Bolivia Oil and Gas Report

 Published On: Sep, 2016 |    No of Pages: 85 |  Published By: BMI Oil and Gas | Format: PDF
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BMI View: Upstream investment into Bolivia has remained intact thanks to the country's strategic location and favourable below-ground prospects. However, weak reserves growth of both oil and gas persists,  creating long-term uncertainty for production and exports. Continued investment in projects to monetise domestic gas resources for local consumption in the residential, power and industrial sectors could tighten the supply-demand picture in the medium term.

Latest Updates And Key Forecasts
-Data from Yacimientos Petrolíferos Fiscales Bolivianos (YPFB) shows natural gas discoveries in Bolivia totalled about 1.5trn cubic meters in 2015, underscoring the country's below ground promise. However, we caution that significant operational headwinds will persist given the company's shrinking profits and budget amid the global sector downturn. Our outlook for 2016 remains positive, with a number of key projects, including first gas from the Ipati and Aquio fields; however, we caution that long-term growth will be challenging to achieve.
-The start-up of national oil company YPFB's virtual LNG supply project in Bolivia on February 15 marked an important change in the country's domestic energy makeup. As the first such project of its kind in Bolivia, the USD144mn Rio Grande LNG facility will support growing demand for gas in rural communities which lack access to the country's vast resource due to a insufficient pipeline connectivity.
-In February, the Bolivian government signed a much-anticipated series of agreements with Russian oil and gas major Gazprom covering exploration, production and transportation of hydrocarbons as well as construction and upgrading of associated infrastructure. The memorandum also included updates to Bolivia's natural gas development plan through 2040, implying added involvement by the Russian firm.
-In March, the joint venture between PdVSA and YPFB to drill the Lliquimuni C X-1 well in the La Paz region came up dry, with the well failing to yield any commercially viable quantities of oil and gas. The project had been touted as highly promising by President Evo Morales prior to its development.

BMI Industry View . 7
SWOT .. 9
Oil & Gas SWOT ..... 9
Industry Forecast 10
Upstream Exploration ...... 10
Latest Updates ..... 10
Structural Trends . 10
Upstream Projects . 13
Table: Bolivia - Major Upstream Projects . . . . 13
Upstream Production - Oil 14
Latest Updates ..... 14
Structural Trends . 14
Table: Oil Production (Bolivia 2014-2019) . . . 15
Table: Oil Production (Bolivia 2020-2025) . . . 15
Upstream Production - Gas ......... 16
Latest Updates ..... 16
Structural Trends . 16
Table: Gas Production (Bolivia 2014-2019) . . 19
Table: Gas Production (Bolivia 2020-2025) . . 19
Refining ..... 20
Latest Updates ..... 20
Structural Trends . 20
Table: Refining Capacity and Refined Products Production (Bolivia 2014-2019) . . . . 22
Table: Refining Capacity and Refined Products Production (Bolivia 2020-2025) . . . . 22
Refined Fuels Consumption ......... 23
Latest Updates ..... 23
Structural Trends . 23
Table: Refined Products Consumption (Bolivia 2014-2019) . 24
Table: Refined Products Consumption (Bolivia 2020-2025) . 24
Gas Consumption .. 25
Latest Updates ..... 25
Structural Trends . 25
Table: Gas Consumption (Bolivia 2014-2019) 27
Table: Gas Consumption (Bolivia 2020-2025) 28
Trade - Oil . 29
Crude Oil: Latest Updates ......... 29
Crude Oil: Structural Trends ...... 29
Table: Crude Oil Net Exports (Bolivia 2014-2020) 30
Table: Crude Oil Net Exports (Bolivia 2020-2025) 31
Refined Products: Latest Updates 31
Refined Products: Structural Trends ...... 32
Table: Refined Fuels Net Exports (Bolivia 2014-2019) . 32
Table: Refined Fuels Net Exports (Bolivia 2020-2025) . 32
Trade - Gas (Pipeline And LNG) .. 33
Latest Updates ..... 33
Structural Trends . 33
Table: Gas Net Exports (Bolivia 2014-2019) . . 35
Table: Gas Net Exports (Bolivia 2020-2025) . . 36
Industry Risk/Reward Index ... 37
Latin America - Oil & Gas Risk/Reward Index .... 37
Table: Latin America - Composite Risk/Reward Index . . 37
Composite RRI: Continued Adjustments Level Off Rankings ..... 38
Upstream RRI: Steady Scores Mask Forthcoming Shifts 39
Table: Latin America - Upstream Risk/Reward Index . . . 40
Downstream: NOC Dominance Will Reinforce Fuels Deficit .... 42
Table: Latin America Downstream Risk/Reward Index . 44
Bolivia - Risk/Reward Index ........ 45
Market Overview . 47
Bolivia Energy Market Overview .. 47
Regulatory Structure ....... 47
Table: Bolivia - Upstream Tax Regime . . . 48
Licensing Regime . 48
Table: Bolivia - Contract And Licensing Regime . . . 48
Licensing Rounds . 49
Bolivia Oil & Gas Infrastructure .. 50
Oil Refineries ...... 50
Table: Oil Refineries In Bolivia 51
Oil Pipelines ....... 51
Table: Bolivia - Oil Pipelines . . . 51
Gas Pipelines ...... 51
Table: Bolivia - Gas Export Pipelines . . . . 52
Competitive Landscape 53
Competitive Landscape Summary 53
Table: Key Upstream Players . . 54
Table: Key Downstream Player 55
Company Profile .. 56
YPFB ........ 56
Table: Major Upstream Assets In Bolivia 57
Table: Key Financial Data (USDmn) 57
Petrobras ... 59
Table: Major Upstream Assets In Brazil . 60
Table: Key Financial Data, USDmn . 60
Repsol Bolivia ....... 62
Table: Key Projects in Bolivia . . 63
Table: Key Financial Data (USDmn) 63
Regional Overview ........ 65
Latin America Overview ... 65
Table: Latin America Oil and Gas Production, Refining Capacity and Trade, 2014-2025 76
Glossary ..... 78
Table: Glossary Of Terms . 78
Methodology ........ 80
Industry Forecast Methodology .. 80
Source ..... 82
Risk/Reward Index Methodology . 82
Table: Bmi's Oil & Gas Upstream Risk/Reward Index . . 84
Table: Weighting 85
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