Colombia relaunches E&P round under new terms
Colombia The ANH’s changes include a provision allowing operators to nominate attractive blocks and have them added to the auction list. Royalty payments for offshore licences will also increase by at least 5%, attracting more revenue for the government.
Major players including NOC Ecopetrol, ExxonMobil and Shell are interested in nine offshore blocks currently on offer, Reuters reported.
“It is expected that once the decision is published and circulated, the first nine offshore exploration and production contracts could be signed in the coming weeks,” an ANH statement said.
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