Colombia ceasefire deal ahead of auction
Colombia 
BOGOTA, June 24, 2016 – Ecopetrol launched its auction of 20 oil and gas blocks late on Thursday. They will be sold via electronic auction on September 30.
Attended by 138 companies, the event highlighted the importance the round for smaller players in the market. “The fields are close to logistical facilities, which adds extra attraction for small and medium-sized gas and oil companies,” Ecopetrol said in a statement.
The announcement follows the June 22 agreement between the Revolutionary Armed Forces of Colombia, commonly known as FARC, and the Colombian government on a bilateral ceasefire. Four years in the making, the deal bodes well for the country’s oil and gas industry – there were 80 pipeline attacks in 2015 alone.
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