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Update: Market Chatter: Petrobras Eyes Bolivia Upstream Return, YPFB Partnership

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(Updates with Bolivia's Ministry of Hydrocarbons and Energy response in paragraphs 4-5.)

Petrobras (PBR) and Bolivia will start technical discussions next week as the Brazilian state oil firm weighs re-entering the country's upstream sector, with the talks also expected to cover cooperation with state energy company YPFB, Reuters reported Thursday, citing Energy Minister Marcelo Blanco.

Energy Minister Marcelo Blanco said Petrobras is willing to help restructure YPFB. He added the talks will assess the company's role in Bolivia's energy sector, but gave no investment details or timeline.

Bolivia expects updated oil and gas reserve estimates by the end of last year next week after an independent firm completes its assessment, YPFB President Sebastian Daroca said.

Bolivia's Ministry of Hydrocarbons and Energy toldin an emailed response that Petrobras and Bolivian authorities agreed during a Wednesday meeting to establish technical roundtables to further discuss issues of mutual interest and evaluate opportunities for cooperation.

Petrobras recognizes the importance of strengthening institutional dialogue with Bolivia and jointly developing a technical agenda, the ministry added.

Petrobras and YPFB did not immediately reply to' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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