Colombia kickstarts bidding round

Latin American producer expands acreage offer nationwide to capitalise on its upstream potential before time runs out

Few licensing rounds were spared the brunt of the pandemic in 2020. As lockdowns took hold, oil prices collapsed and global economic recession appeared unavoidable. Against this stark backdrop, countries scrambled to suspend or defer their bidding rounds. In contrast, the mood across the oil patch this year is one of cautious optimism. Successful vaccines promise to return economic activity and oil prices have already rallied on encouraging health projections. In Latin America, bidding rounds are again set to resume. Brazil has booked in its 17th bidding round for the final quarter—offering attractive acreage in the pre-salt and beyond— and Colombia is following up the third cycle of the per