Colombian bid round: old and new challenges
A combination of social disputes and competition from Guyana and Suriname is hampering Bogota’s efforts to attract further investment
Colombia’s state licensing regulator, the National Hydrocarbon Agency (ANH), announced in December the winners of the country’s second oil auction of the year. Blocks 123 and 124 in the Llanos Basin, an oil rich region in the east of the country, were awarded to a consortium headed by Latin American-focused operator Geopark—taking a 50pc stake—with Hocol, a subsidiary of the Colombian state controlled Ecopetrol, holding the remaining equity. The only other competitor for Block 124 was from Canadian firm Parex Resources. Geopark described the expansion of its Colombian portfolio and the acquisition of the blocks, which total an area of nearly 116,000 gross acres, as “attractive, low-risk, hig

Also in this section
19 December 2024
Deepwater Development Conference welcomes Shell’s deepwater development manager to advisory board for March 2025 event
19 December 2024
The government must take the opportunity to harness the sector’s immense potential to support the long-term development of the UK’s low-carbon sector
18 December 2024
The energy transition will not succeed without a reliable baseload, but the world risks a shortfall unless more money goes into gas
18 December 2024
The December/January issue of Petroleum Economist is out now!