Colombia prepares shale auction debut

Colombia will for the first time auction areas potentially containing non-conventional or shale crude in its 2014 oil round in July that it launched Wednesday.

Colombia is seeking to sustain a wave of foreign investment into the sector.

Latin America's number 4 oil producer aims to raise around $2.6 billion by selling more than 22 million hectares for exploration and production at the July 23 auction, the National Hydrocarbons Agency said.


Source: Reuters