Colombia will offer up to 40 blocks for auction at its next oil round, the president of the national hydrocarbons association (ANH) said Nov. 20, after awarding just four blocks in its most recent sale.
“We have between 30 and 40 blocks,” Armando Zamora, said in a virtual press conference for an annual oil and gas conference. “The map is open and will remain open so that companies which want to show interest in another area can do so.”
Zamora did not give an exact date for the next round, nor respond to a question about how much the country hoped to earn from possible contracts.
CNE Oil & Gas, a subsidiary of Canacol Energy Ltd., and the Colombian arm of Parex Resources Ltd. each made two unchallenged bids on two blocks at the most recent auction, which concluded earlier this week.
The offers have an estimated value of $40 million.
Recommended Reading
1Q24 Dividends Declared in the Week of April 29
2024-05-03 - With earnings season in full swing, upstream and midstream companies are declaring quarterly dividends. Here is a selection of dividends announced in the past week.
Enbridge Advances Expansion of Permian’s Gray Oak Pipeline
2024-02-13 - In its fourth-quarter earnings call, Enbridge also said the Mainline pipeline system tolling agreement is awaiting regulatory approval from a Canadian regulatory agency.
Mexico Pacific Appoints New CEO Bairstow
2024-04-15 - Sarah Bairstow joined Mexico Pacific Ltd. in 2019 and is assuming the CEO role following Ivan Van der Walt’s resignation.
Mitsubishi Makes Investment in MidOcean Energy LNG
2024-04-02 - MidOcean said Mitsubishi’s investment will help push a competitive long-term LNG growth platform for the company.
Tellurian, Institution Investor Agree to New Loan Repayment Terms
2024-02-22 - Tellurian reached an agreement with an unnamed institutional investor to pledge its interest in the Driftwood project as collateral.