This past week, the ANH held its Colombia Round 2021 auction and there can be no doubt it was a great success. Thirty blocks were awarded, the most since 2012 when oil prices were over US$100/bl (and to be frank, many of the blocks assigned were never worked). What went well and what could be improved?
Canacol’s (TSX: CNE) Charles Gamba, talked about the company’s plans and the benefits of the Jobo-Medellin pipeline.
Transportadora de Gas Internacional (TGI), a subsidiary of Grupo Energía Bogotá (GEB), presented its third quarter results.
José María Castro, Manager of Sociedad Portuaria El Cayao (SPEC), in Cartagena, spoke about the regasification capacity of this facility.
The quality of the country’s biodiesel is one of the best in the world, certified by international processes and organizations.
The ANH held its event to receive bids in the Colombia Round 2021. With 30 blocks receiving bids (and with these bids almost certain to result in contracts), this was a tremendous success compared to any assignment process dating back to 2012 which had assigned 49 (not all of which ever were worked). The 2014 Round awarded 26. That of 2019 only 11. The top bidder was Parex.
Shell (LON: RDSB) resumed drilling in the waters of the Caribbean Sea.
Experts talked about the main challenges of the sector in terms of expansion and scope.
Ecopetrol (NYSE: EC) developed a strategy to respond to the health and social emergency starting in June 2020.
Colombia has been discussing presidential pre-candidate Gustavo Petro’s controversial proposal to halt oil exploration if he becomes president. Minister of Mines and Energy (MinEnergia) Diego Mesa spoke about this issue.
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