OREANDA-NEWS. On March 17-18, led by Stanislav Tsygankov, Head of the Gazprom International Business Department, a Gazprom delegation paid a working visit to Bolivia.

Within the visit the delegation held negotiations with Santos Ramirez, President of the Bolivian state-owned petroleum company YPFB. The parties discussed the prospects for bilateral cooperation in the oil and gas area, as well as issues concerning further joint activities.

In the presence of Bolivian President Evo Morales Gazprom and YPFB signed an Agreement on geological exploration in Bolivia. Pursuant to the Agreement, exploration will be carried out at blocks Sunchal, Acero and Carohuaicho.

In his welcoming speech President Evo Morales highly appreciated the potential of cooperation between Gazprom and YPFB and expressed confidence that it would be successfully extended in the future.

Stanislav Tsygankov underscored that Gazprom represented a vertically integrated company operating in the oil and electric power industries, which, in future, could become the areas of interaction between both parties.

In the course of the visit the Gazprom delegation conducted negotiations dedicated to possible cooperation in the region with Repsol, Tecpetrol companies.