The National Hydrocarbons Agency has published a letter confirming that it has reached an agreement with Pacific Rubiales Energy (TSX:PRE) and will proceed with termination of its concession contract in the Rio Ceibas basin (VSM-13), to the delight of the local community.
After a seven year dispute and hours before a government mandated deadline, miners Drummond and Carrejón have reached an agreement to proceed with the extraction of methane gas associated with a coal deposit in La Guajira.
The Minister of Mines and Energy Amylkar Acosta confirmed that at least three supermajor oil producers –ExxonMobil (NYSE:XOM), Petrobras (NYSE:PBR) and BG Group (LSE:BG.L)- will participate in the Colombia 2014 Round.
The director of the National Hydrocarbons Agency Javier Betancourt says that the exploration and production contract for the VSM-13 block, located along the Las Ceibas river will not go forward and that Pacific Rubiales (TSX:PRE), who holds the contract through an acquired subsidy Alange Energy, wants to end the concession.
Following a road show to five countries over two months after launching the Colombia Round 2014, the National Hydrocarbons Agency says that 46 companies have acquired the information packets on the 97 blocks that it is offering.
The government has expressed great hopes for the 2014 Round and with normal Colombian political processes the auction in Caribbean will be the current MinMinas, Almykar Acosta, swansong with the industry. He no doubt wants it to go well.
The National Hydrocarbons Agency (ANH) has published the draft reference documents and other supporting material for the upcoming Colombia 2014 Round where it looks to assign up to 97 E&P blocks.
The Arbitration Tribunal of Bogotá’s Chamber of Commerce sided with Ecopetrol in a prolonged dispute over the formula used to figure payments received from Pacific Rubiales (TSX:PRE) in the Quifa field.
The National Hydrocarbons Agency (ANH) has high hopes for the Colombia 2014 Round and based on preliminary interested received from possible participants is aiming for 10 to 20 new companies to enter the national oil industry through the auction.
The National Hydrocarbons Agency (ANH) is preparing a deeper analysis of basins with oil prospects but that are not within the traditional oil producing areas such as Magdalena or the Llanos, and will improve contractual terms as well.
2025, Hydrocarbons Colombia, All Rights Reserved.
