LIMA, Sept. 18 (Xinhuanet) -- Bolivia will seek support from Brazil and Spain in enacting a new law on hydrocarbons that is currently debated in the country's Congress, Bolivian Foreign Minister Juan Siles said Saturday.

    Siles said that Bolivian President Carlos Mesa will try to obtain support from his Brazilian counterpart Luiz Inacio Lula da Silva and Spanish counterpart Jose Luis Rodriguez Zapatero during the upcoming meeting of the Organization of American States (OAS) due to be held in the United States on Sept. 21.

    The minister said that the support is "vital" because the Brazilian oil company PETROBRAS and the Spanish oil company Repsolare two of the leading oil-exporting companies exploiting hydrocarbons in Bolivia.

    The new law on hydrocarbons, proposed on the basis of a July 18referendum, plans to increase taxes and bonus of up to 50 percent,and would force exploiting firms to sign new agreements.

    Bolivia's Hydrocarbon Chamber (CBH) has reiterated its opposition to any modification of the previously signed contracts,claiming it as a violation of the regulations that have been in effect since 1997.

    The CBH also warned of the possibility of resorting to international tribunals.

    Bolivia has natural gas reserves of 54.8 quadrillion cubic feet,the second largest volume in South America behind Venezuela. Enditem