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Colombian regulator awards 49 oil exploration blocks

Friday, November 23, 2012

ANH, the regulating body of the Colombian hydrocarbon industry, has awarded 49 blocks in the country’s Ronda Colombia 2012 exploration round.

Some 105 bids were submitted, but eventually blocks were awarded to only 37 companies, 11 of which have never operated in Colombia before, and are expected to attract approximately $ 2.6 billion in investment.

State-backed Ecopetrol was awarded 12 blocks, seven of which came with partnerships involving ExxonMobil, Repsol, Shell, Hocol and Statoil.

Source: Energy Global