The acquisition also encompasses two gas treatment plants and infrastructure. Credit: noomcpk/Shutterstock.

Brazilian oil and gas company Fluxus has acquired Pluspetrol Bolivia for an undisclosed sum, reported Bloomberg.  

Fluxus, owned by businessmen Joesley and Wesley Batista, completed the transaction last week. 

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The deal includes the Tacobo, Tajibo and Yacuiba fields in the Tarija-Chaco basin, which are key to Fluxus’ strategy to become a multinational oil and gas venture in the region. 

Fluxus CEO Ricardo Savini said that the company plans to channel the gas from Bolivia to the Cuiaba thermal power plant in Brazil, another asset under the Batista brothers’ ownership.  

The Tacobo, Tajibo and Yacuiba fields have a current output of around 100,000m³ of natural gas per day, with the potential to exceed one million cubic metres daily.  

The acquisition also encompasses two gas treatment plants and the infrastructure to transport gas to markets in Bolivia, Brazil and Argentina. 

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The deal comes as Fluxus nears the operational takeover of the Centenario field in Neuquén, Argentina.  

Pluspetrol Bolivia produces 412,000 barrels of oil equivalent per day, with activities spanning several countries including Argentina, Bolivia, Colombia, Ecuador, the Netherlands, Peru, Uruguay and the US. 

In other Latin American oil and gas industry news, in April energy companies from Argentina and Brazil initiated talks to reverse the flow of a Bolivian natural gas pipeline connecting the three countries.  

This initiative aims to address potential shortages and avoid Brazil’s reliance on expensive alternative fuels.  

With Bolivia’s gas exports declining and possibly ceasing post-2029, rerouting gas from Argentina’s Vaca Muerta shale formation through Bolivia’s pipeline network appears to be the most viable solution.