Petrobras and Total sell interest in Bolivian gas transportation company Transierra

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Petrobras and Total sell interest in Bolivian gas transportation company Transierra

Petrobras announced in early August that it has sold its 44,5% stake in Transierra S.A. to Yacimientos Petrolíferos Fiscales Bolivianos (YPFB) for US$ 106.7 million.

Bolivian state-owned energy company YPFB has paid $133 million to Brazil's Petrobras and France's Total for their stakes in the pipeline operator. Total had a 10 % stake in the asset.

Petrobras said this transaction is aligned with the company's Strategic Plan and complies with Law466 of December 2013 with sets the regulatory framework for state owned companies in Bolivia.

Bolivian pipeline operator Transierra operates the 431km Yacuiba-Río Grande (Gasyrg) pipeline which started operations in early 2003, and delivers gas from the San Alberto and San Antonio fields in the south of the country to the Bolivia-Brazil (B2B) pipeline. Gasyrg currently transports some 17Mm3/d.

The company, which will henceforth be known as YPFB-Transierra, now has a 55.5 % stake in the pipeline, while YPFB-Andina, in which YPFB and Spain's Repsol have nearly equal shares, has the remaining 44.5 %.

Bolivian hydrocarbons Minister Juan Jose Sosa praised Petrobras and Total for the "goodwill offered in these negotiations" to reach a satisfactory agreement.

Edwin Alvarez, who had served until now as YPFB's head of contract management, has been named Head of YPFB-Transierra.

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