Colombia’s ANH has awarded 14 blocks in its latest oil auction.
Colombia’s ANH has awarded 14 blocks in its latest oil auction.
Fifty-nine blocks were on offer, mainly concentrated near the country’s northern Caribbean coast and in its eastern plains.
CNE Oil and Gas won three contracts. Gran Tierra Energy and Canada’s Parex Resources were awarded two contracts each. Ecopetrol and its subsidiary Hocol, Frontera Energy and Amerisur Resources were all awarded one contract each.
A consortium of Ecopetrol and Parex was awarded one contract. A consortium of Hocol and Geopark was also awarded one contract.
Block SN 26 was awarded to a consortium of La Luna and Captiva, who beat a rival submission from Hocol.
Just one counter offer was tabled (by Parex) for block Llanos 124. In earlier bidding the block received bids from Parex and a consortium of Geopark and Hocol.
The first auction in June led to the award of 11 contracts to companies including Royal Dutch Shell, Noble, Exxon, Repsol and Parex, which are expected to invest some $500 million.
Colombia’s crude reserves are estimated at 1.96 billion barrels. Average production is 860,000 barrels a day.
