Let's get talking: YPFB
YPFB gets set to talk
Bolivia's state-run producer YPFB will meet with players operating in the country within 10 days to evaluate their compliance with investment and development programmes, YPFB boss Santos Ramirez has said.
In a report carried by state news agency ABI Ramirez said that if YPFB finds irregularities or delays in investment programmes, companies will be given a final warning before their contracts are cancelled.
The ABI report said La Paz is hoping to confirm that companies are up to date with their commitments under President Evo Morales' nationalisation decree.
Earlier this month, Morales warned foreign players time was running out.
"If in a given time they do not invest, we are going to recover these areas so YPFB can invest in them, even if it has to be through debt," BNamericas quoted Morales as saying.
Foreign producers operating in Bolivia are set to spent about $876 million in the country's play this year.
However, BNamericas said a number of outfits have missed several deadlines to commit to new investment plans in the country, which blames its slow production growth on investment shortfalls.
Companies operating in Bolivia' include Spain's Repsol YPF, Brazilian giant Petrobras and Pluspetrol.