Some information is breaking out on the nature (including royalties and splits) of new service contracts being signed in Bolivia.
It appears Bolivia is taking on more risk with the potential to reap more money in the long-run. Interesting. But this is exactly where national governments should be on managing indigenous energy resources, is it not?
Late Saturday night, Evo Morales and representatives of Bolivia’s state oil and gas company, Yacimientos Petroliferos Fiscales Bolivianos (YPFB) signed new contracts with 10 of the largest oil and gas companies operating in Bolivia. Saturday marked the 180-day deadline by which foreign companies were required to ‘migrate’ their existing contracts to a new framework or leave Bolivia, as established in the government’s Nationalization decree issued last May.