Desarrollo energético en América Latina y la economía mundial

DESARROLLO ENERGÉTICO EN AMÉRICA LATINA y LA ECONOMÍA MUNDIAL The Bank is currently working in preparing projects in the follo– wing countries belonging to the first group4. Argentina. The likely project will ínelude: 1) fulI auditing oE oil and gas reserves to assist YPF in prep:aring tenders for private sector participation in theír further exploration, development, enhanced recovery, etc.; 2) a study to optimize production, transportatíon and utilizatíon of the vast gas resource& of the country; III YPF seismic surveys in the northwest to prepare the area for further exploratíon by private groups. AH the. aboye components have been chosen in agreement with the Government and in support of its poliey of maxi– mizing the use of private risk capital and expertise in this sector. Bolivia. The project may inelude: 1) seismic work and appraisal drilling to prove sufficient gas reserves to justify investments in a gas pipeline to Sao Paulo, Brazil (:approximate cost of this pipeline is $ 1.6 billion) . Should these reserves be proven, revenues from gas exports would account for 20% to 30% of a11 Bolivían foreign exchan– ge, earnings and significantly improve its balance of payments situa. tion; 2) water injection for increased recovery in the Monteagudo oil fieId which is the only one currentIy providing the type of crude needed in Bolivia's refíneries. Colombia. We expect to finance: 1) about $ 30 million in seismic survers in relatively unexplored areas of the Llanos and the Pacific, to assist ECOPETR'OL in preparing bids for further exploratíon by private companies (these work under "association" agreements with ECOPETROL which require them to carry the exproratory risks, but in case of discovery, ECOPETROL takes a 50% participation in development and reimburses haH of the exploration cost); 2) water mJection to increase recovery in ECOPETROL'S Casabe oH field. For the future we are considering assisting Colombia in the development of a heavy oil field which has now become economically viable. The project invol. ving investments of several hundred million would be in association with a major US oil company. Ecuador. Though Ecuador is a member of OPEC, its current pro– duction is only about 200,000 bid of which only hall is exported. 'The description of the projects is tentative as their scope continues to be under discussion. 168