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Colombia opens 59 blocks for bids in next oil auction

18 Sep 2019

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Colombia will have 59 blocks on offer in its next round of oil bidding, the national hydrocarbons agency (ANH) said on Wednesday, as the country steps up efforts to encourage more investment in the sector.

The ANH debuted the blocks, which are located throughout the Andean country but concentrated near its northern Caribbean coast and in its eastern plains, during a private event with oil companies on Tuesday, it said in a statement.

Five of the blocks are offshore and 27 of them are areas which have been requested by already pre-qualified companies, the first time that mechanism has been available, the ANH said.

Nine of the areas were included in the previous auction, it added, while thirteen of the new areas have gas production potential.

A final list of qualified bidders will be published on Oct. 21, the statement added, and companies will deposit initial offers on Oct. 31.

Click here for full Reuters article

Source: Reuters

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