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
6 February 2026
The long close relationship between key supplier Qatar and pivotal buyer Japan becomes even deeper following new landmark deal
6 February 2026
Partnerships across the LNG value chain have evolved over time, growing in both complexity and importance, according to panellists at LNG2026
6 February 2026
Nigeria's mega-refinery is still trying to solve many challenges, all while its owner talks up expansion
5 February 2026
While broadly supportive of EU efforts to tackle methane emissions, representatives of the gas industry warn it could deter supply contracting if timelines and compliance requirements are not made more pragmatic
