Bolivia to Multiply Hydrocarbon Investments in 2012

La Paz, Dec 22. -Bolivia will invest more than two billion dollars in the hydrocarbon sector in 2012, said Carlos Villegas, president of Yacimientos Petrolíferos Fiscales Bolivianos, Wednesday.Investments over the next 12 months will total 2.5 billion dollars, said Villegas at an event to celebrate the creation of YPBF.It is a record in the history of hydrocarbons in Bolivia and almost doubles the 1.2 billion invested in 2011.

According to conservative estimates, Bolivia's oil reserves will last 90 years, and gas reserves will last for 600 years, only excelled by Venezuela in gas reserves in South America.

Villegas announced the construction of a plant to produce urea and ammonia to produce fertilizers for domestic agriculture.

The international call to build plant was made on Tuesday.

The facility might process up to 1,900 tons of urea and ammonia a day. Investments will total 1.6 billion dollars. (Prensa Latina)