The Colombian Hydrocarbon Agency (ANH) will offer 59 oil blocks during the second cycle of its permanent bidding round. From the total, five blocks are located offshore namely, SIN-OFF-9, SIN-OFF-11, GUA-OFF-11, GUA-OFF-12, GUA-OFF-13 (all unexplored). 13 blocks have the potential for gas production as well. The final list of investors authorized to participate will be disclosed on 31 October 2019 with contracts expected to be signed on 3 December 2019.
Colombia is a major oil-producing country and it expects to significantly increase its production and export capacity. ANH expects reserves to rise to 4 Gbl by 2020. The country has been an oil-exporting country since 1986. In 2018, oil exports reached 31 Mt (90% of crude oil), a significant increase compared to the average of 18 Mt/year recorded over the 2000s. Most of the oil is exported to the USA.
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