A few weeks ago, the National Hydrocarbons Agency (“ANH”) published its new model contract for offshore exploration and production activities. Although some parameters are specific to offshore, others reflect how the Agency’s thinking has evolved since 2014, the last time it held a block auction to award offshore areas. Norton Rose Fulbright Colombia’s oil & gas team volunteered to write this summary.
With less than two months left in this government, the most important measure from the package announced in September 2015 is not going to happen. The bureaucrats have effectively killed the idea of permanent block assignments by avoiding doing anything before time expired.
The National Hydrocarbons Agency (ANH) plans to carry out a new oil auction scheme to increase exploration and production in the country. This has generated expectation in investors, since it opens the possibility of exploring new areas in the country with great potential.
The Sinu San Jacinto bid round was announced with great fanfare on September 12th, 2017. The auction was supposed to have completed before the end of that year. Now, quietly, the date keeps slipping.
The construction of new regasification plants has been a subject of much interest and controversy in the country. Companies have shown their interest in these projects. Jaime Orjuela, President in charge of TGI, spoke on this subject and the company’s plans.