ANH to receive Río Aipe, Villarrica bids thru April 18

Colombia's hydrocarbons regulator ANH will receive bids until April 18 for exploration and production contracts on the Río Aipe and Villarrica blocks, ANH said in a statement. The bids will be evaluated on a first-come, first-serve basis, the ANH said. Brazil's federal energy company Petrobras (NYSE: PBR) and Canadian oil company Nexen relinquished their contracts on the Río Aipe and Villarrica blocks respectively in February. The 87.8 hectare Río Aipe block is in the Santa Magdalena valley and the 109 hectare Villarrica block is in the eastern cordillera. Colombia's total 2004 oil production fell 2.4% to an average of 528,000 barrels a day compared to 2003. The government is trying to increase investment in exploration to replace declining reserves.