Amerisur Resources Plc (LON: AMER) announced asset acquisitions in the Caguan-Putumayo Basin. The blocks were bought from Pacific Energy E&P (TSX: PEN).
The National Government failed to receive about CoP$23.6T due to the oil price drop and the sector crisis affected everyone. In September 2015, the National Hydrocarbons Agency (ANH) announced improvements and incentives to boost the sector. Nearly a year-and-a-half later, finally, the new regulation has been approved.
The graph shows the history of contracts signed by the National Hydrocarbons Agency (ANH). The post-2014 record is not inspiring.
In its first regulatory move since the exit of its president earlier this year, the National Hydrocarbons Agency (ANH) has published a draft of regulations which will govern a promised new assignment process. The agency will receive comments through September 18th, 2016.
The other major reversion (besides Rubiales), Ecopetrol (NYSE:EC) is set to receive the Cusiana field on July 4th, after the end of the Tauramena association contract, signed originally between BP (NYSE:BP) and Ecopetrol in 1986.
Ecopetrol (NYSE:EC) has made good on promises to sell off its non-core assets, and has announced a ‘2016 Field Round’ in which it is auctioning 20 assets to the oil & gas industry.
The National Hydrocarbons Agency (ANH) has been willing to negotiate contract terms of E&P contracts as one of the benefits delivered to the industry due to the fall of oil prices. But rarely do these agreements get released to the public. A recent agreement made with Interoil over COR-6 gives us a small window into this process.
The National Hydrocarbons Agency (ANH) says that it has detected a significant increase in the buying and selling of E&P blocks, provoked by the fall in oil prices.
The National Hydrocarbons Agency (ANH) board of directors has approved regulatory changes to how it will assign blocks, and reports suggest it has taken into consideration at least some of the observations from the Colombian Petroleum Association (ACP).
The National Hydrocarbons Agency is accepting comments until January 31 on proposed changes to the area assignment process, the last step before implementing a new model which it hopes will offer more flexibility and attract new players and investment to Colombia.
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