Gazprom, Total for Joint Exploration in Bolivia

The Gazprom headquarters hosted today a meeting between Alexey Miller, Chairman of the Company's Management Committee and Patrick Pouyanne, Chief Executive Officer and President of the Executive Committee of Total, to address the core issues of the bilateral cooperation on the current status of the agreements on joint development of oil and gas fields in Bolivia. It was noted that the preparation of wells and the relevant infrastructure was well underway as part of developing the Ipati and Aquio gas deposits before the start of commercial production scheduled for 2016.

The meeting also shared opinions regarding the project for joint development of hydrocarbon deposits in the Acero block. According to exploration data, the most promising structures within the contracted block are North Incahuasi and Ilinchupa.

The parties stressed the high potential of exploration activities in the new areas of Bolivia, taking into account the growth of gas consumption in the country.