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Colombia pushes back deadlines for E&P round

Bnamericas Published: Tuesday, May 14, 2019

Colombia has extended deadlines for its permanent offer of oil and gas licenses, allowing potential investors more time to prepare bids.

Changes include a June 5 cut-off for the presentation of documents in the second round of offers, a month later than previously scheduled, industry regulator ANH said in a statement.

Companies were also given more time to present and validate proposals in the counter-offer stage.

Meanwhile the agency modified guidelines related to additional exploration and requests for the incorporation of areas, among other changes.

More information, in Spanish, can be see here.

Colombia is offering 13 onshore blocks in the Llanos basin, five onshore blocks in the Valle de Magdalena basin and two offshore Caribbean blocks as part of the permanent procedure.

Companies that have inquired about the round include CNE Oil & Gas, Ecopetrol, Geoproduction Oil & Gas, Gran Tierra Energy, Hupecol Operating and Parex Resources.

Exploration licenses will span six years for onshore areas and nine years for offshore blocks. Officials expect investment to reach US$600mn.

Also from Colombia, junior operator Amerisur said Tuesday that it maintained its full-year crude production guidance of 5,000 to 6,000b/d despite reporting current output of 6,500b/d.

In a stock exchange filing, the London-listed company said it has completed a successful workover campaign at the Platanillo block and received its first batch of third-party oil.

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