Colombia aims to launch new E&P round in February

Oct 23, 2007 02:00 AM

Colombia's state hydrocarbons regulator ANH aims to launch its next E&P bidding round in early February at the Oil & Gas Investment Conference in Cartagena, ANH director José Armando Zamora told.
ANH will announce the shape of the blocks and the bidding guidelines, he said at the Argentina Oil & Gas Expo, where he is promoting the round, dubbed Colombia Round 2008. The round will focus on three areas: Sinu-Norte, which is a gas-prone area; Cesar Rancheria, an oil-prone area; and Soapaga, also oil-prone. The areas are moderate risk and boast proven hydrocarbons presence, he said.

Toronto-based Pacific Stratus Energy discovered gas this year at La Creciente in the Sinu-Norte area, he said. Seismic and other oil studies just wrapped up at Cesar Rancheria and "good quality work" has been performed at Soapaga.
ANH expects to attract the attention of large and medium-size independent oil and gas companies at Colombia Round 2008. ANH also could launch a separate bidding process next year for smaller areas, he said, comparing the potential round to the first competitive process in 2007 that recently attracted 22 offers.

Meanwhile, ANH plans to perform additional work on areas that failed to attract bids at this year's Caribbean round. ANH did not receive offers for the following blocks: RC#1 on Colombia's southern Caribbean coast; RC#2, just north of RC#1; RC#3 just north of RC#2; and RC#13 on Colombia's northern Caribbean coast,
"We'll wait and see what happens with the other adjacent areas. If there are discoveries or significant leads, then these areas will be released," Zamora said.

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