La Paz, Jan 16 (Prensa Latina) The Bolivian Government is outlining a large program seeking to define investments in the hydrocarbons field, in an attempt to consolidate the industrialization process and turn the country into the energy heart of South America.

According to Minister of Hydrocarbons and Energy Luis Alberto Sanchez, the Government expects to allocate more than $12.66 billion USD in this field until 2020.

In 20 years of neoliberal governments (1985-2005), there was hardly an investment of $six billion USD in the hydrocarbon field.

'With the management of President Evo Morales, who began his first term in 2006, we outlined a growth four times higher, reaching more than $23.8 billion USD in 2020', said Sanchez.

Regarding the domestic exploration plan, he said that it is projected to reach a daily production of 74 million cubic meters of gas (MMmcd) by 2024.

Regarding industrialization, Sanchez referred to ongoing projects such as the urea and ammonia plant station in Bulo Bulo (Cochabamba) and propylene and polypropylene in Tarija, which will be opened in the coming months to become the first complex Petrochemical company of Bolivia.