An example of the return of foreign investment to the Bolivian energy sector:
LA PAZ, Feb 9 (Reuters) - French oil company Total (TOTF.PA) has launched a natural gas exploration project in Bolivia that may lead to an investment of some $500 million in the Andean nation, a company executive said on Tuesday.
Foreign energy companies present in Bolivia, including Spain's Repsol (REP.MC), Brazil's Petrobras (PETR4.SA) (PBR.N) and Total, froze investments in the country after leftist President Evo Morales nationalized the natural gas industry in 2006.
But in late 2009 a consortium led by Repsol said it plans to invest $1.5 billion to boost natural gas output, in a move that analysts say signals that companies are willing to invest in Bolivia if the country finds new markets for its fuel.
The manager of Total's Bolivian subsidiary, Jean Daniel Blasco, announced his company's plans in a ceremony to mark the launch of an exploration project at its Incahuasi block.
"If there are positive results (with the drilling), we'll be able to develop the field ... with an investment of around $500 million," he said in the ceremony broadcast by the national television network.
Total will invest some $70 million to drill a well before deciding whether to invest further, said Blasco.
