In 2014, we performed an Environmental, Social, and Biodiversity Impact Assessment for the contract area, an Environmental, Social, and Biodiversity Baseline Study, and also produced a sensitivity map.
The main findings from this assessments allowed us to identify the impacts of our operations to make a Biodiversity Action Plan and enable us to manage them. As part of this plan, during 2016 and 2017 satellite images of the Caipipendi area from 2010 to 2016 were acquired and interpreted.
Taking into account the high sensitivity of the Caipipendi area and that there are other other players outside the company working for example on livestock, agricultural, road construction projects, we believed it was essential to perform historical monitoring studies.
These studies were carried out by interpreting satellite images and applying technological resources that helped us clearly identify the environmental impacts linked to company operations with the aim to adequately guide and oversee our prevention and mitigation measures.
These studies also allowed us to know the true effectiveness over time of the mitigation measures that were implemented, for example, upon measuring and quantifying the effectiveness of reforestation or erosion control works. This is fundamental at the time of optimizing environmental management measures underway and to adequately oversee them in the future.
This is how our company has demonstrated in its operations in the Caipipendi area in Bolivia its commitment to managing biodiversity with a comprehensive approach and following best practices according to international standards.
Operations in Caipipendi will last until 2046, under a law aimed at promoting investment in the exploration and production of hydrocarbons. We are committed to the country, and we are making investments amounting to $500 million aimed at confirming the presence of gas and accelerating the production of hydrocarbons in the prospects that have already been identified in the area.
With this project, we positively contribute to the United Nations' 2030 Agenda through the following SDGs: