Manager of South America Branch of Anhui Guangda meets with Minister of Bolivarian Ministry of Petroleum and others

On 21 April 2023, Mr. Wu Xingguo, Manager of the South American branch of Anhui Guangda Mining Investment Co Ltd, met in Venezuela with Franklin Molina Ortiz, Minister and Deputy Minister of Hydrocarbons and Energy of the Plurinational State of Bolivia, and Executive President of Yacimientos Petrolíferos Fiscales Bolivianos (YPFB), Armin Dorgathen Tapia, and the Ambassador of the Bolivian Embassy in Venezuela, among others. The two sides discussed oil and gas investments and cooperation in Bolivia and reached a preliminary consensus.

Bolivia is relatively rich in oil and gas reserves, especially natural gas reserves. Among the discovered hydrocarbon-bearing basins, the Santa Cruz-Tarija Basin has proven and controlled reserves of 2,256 million cubic metres of oil equivalent, including 307 million cubic metres of crude oil and 2 trillion cubic metres of natural gas, ranking 5th in South America, after the Eastern Venezuela Basin, the Maracaibo Basin, the Campos Basin and the Santos Basin.