Given the current situation in Bolivia, Repsol YPF wishes to express its solidarity with that nation and its people, a country with which Spain and Argentina have maintained long and historic relationships. At the same time, we would like to express our desire that the political and social situation of the country stabilizes, accompanied with a strengthening of democratic institutions, so that a return to normalcy occurs as soon as possible. We want the best solution for the country, its citizens, and for the companies that believe in Bolivias future.
Our company has had a presence for many years in Bolivia. Repsol YPF, which employs 300 people directly and generates 3,000 indirect jobs, has invested around 800 million euros in the country, which in turn has provided 490 million euros in State revenues.
Bolivia represented in 2004 1.4% of Repsol YPFs total operating income.
Following recent events, production has been reduced by 3,500 boepd, which represents 0.3% of the companys total hydrocarbon production (1,165 thousand boepd).
Repsol YPFs activities are guided by business practices that value people above all other things. We are firmly committed to the people, and the development, of those areas and regions where our company has operations.