The National Hydrocarbon Agency (ANH) of Colombia has qualified 27 companies to bid in the next oil auction for 59 oil blocks, during the second cycle of its permanent bidding round. Ecopetrol, Occidental, Cepsa, Hunt, Noble, ONGC Videsh ltd (OVL) and CNOOC are among the qualified bidders. From the 59 blocks, five blocks are located offshore namely, SIN-OFF-9, SIN-OFF-11, GUA-OFF-11, GUA-OFF-12, GUA-OFF-13 (all unexplored) and 243 blocks have the potential for gas production as well. The ANH expects to sign 20 contracts as a result of the round, raising US$800m in total investments. In the previous round, the ANH signed 11 contracts with 6 companies, which should generate US$500m in investments.
Colombia, which is a major oil-producing country, 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 34 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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