The National Hydrocarbons Agency (ANH) announced a second auction of the Permanent Competitive Process (PPAA) for November this year. This is the block that has caught investors attention due to its location in the Catatumbo region.
This week the ANH head, Luis Miguel Morelli, said that he expected to publish the so-called ‘B Team’ regulations in October and auction 20 blocks in February. Recently I had lunch with a prominent member – and cynical observer – of the industry and talk turned to the idea of auctioning mature Ecopetrol fields. I think these two ideas are closely related.
Only tomorrow will we know if Geopark responds to Frontera’s counteroffer for VIM 22 and the ANH’s first round of its Permanent Competitive Process (PPAA) will complete officially only on the 15th of July. But I think the ANH should already be breaking out the vintage soda water, declaring this round a success.
Geopark Limipted (NYSE: GPRK) announced the expansion of its portfolio on Colombia, after the National Hydrocarbons Agency (ANH) bid round in June 2019. The company won three blocks in alliance with Hocol (a 100% subsidiary of Ecopetrol (NYSE: EC).
As we reported, recently the first ‘window’ of the new ‘permanent’ block assignment process (known as PPAA for its initials in Spanish) passed its first hurdle successfully. In this article, we look at the results, based on the notes we took at the event. Official results, have been published confirming our estimation of the leading bidder for each block.
The National Hydrocarbons Agency (ANH) held a press conference to talk about the Permanent Competitive Process (PPAA). Nicolás Mejía, Vice President for Promotion and Assignment of Areas of the National Hydrocarbons Agency (ANH) and Luis Miguel Morelli, President of the ANH, were at the event. We bring a brief summary of the meeting.
Tuesday, June 4, 2019 marks the first block assignment process since July 2014, nearly five years ago. Much has happened and oil prices – a primary determinant of investment and so participation – are still well below where they were during the last auction. Here is the announced list of qualified participants.