OUTLOOK: 2012 round to mirror previous call?

Wednesday, August 22, 2012

Colombia's previous E&P call - Open Round 2010 - launched in December 2009 offered 228 blocks that drew 52 groups and over 200 bids.

Hydrocarbons regulator ANH awarded 78 blocks for which 68 contracts were signed; the watchdog had expected to license 40-50 blocks.

Ronda Colombia 2012 could follow suit as 133 data packages were finally purchased by 84 companies for the 102 onshore and 13 offshore blocks on offer, of which 33 contain some form of unconventional hydrocarbon resource potential.

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Companies that purchased packages for the current process include 2010 awardees C&C Energía (TSX: CZE), Ecopetrol (NYSE: EC), Gran Tierra Energy (TSX: GTE), Hocol, Hupecol Operating, InterOil Exploration & Production, Ismocol, OGX Petróleo e Gás, Parex Resources (TSX: PXT), Perenco, Petro Caribbean Resources, Petroleos del Norte, Petrominerales (TSX: PGM), Ramshorn International, Repsol (NYSE: REP), Shell (NYSE: RDS-A, RDS-B), SK, Suelopetrol, Suroco Energy (TSX-V: SRN), Vetra and YPF.

The list will all 84 firms is available in Spanish here

The names of tentative and definitive qualifiers are due out by September 17 and October 1, respectively, with offers due October 17. ANH aims to award areas November 26 and to sign contracts by December 21.