The National Hydrocarbons Agency (ANH) is pushing to have the reference terms ready in three weeks for the second phase of the Colombia Round 2014, which will look to award the 69 blocks that did not reserve a bid last week in the opening phase.
The 2014 Round of auctions is over and the Colombian government is all smiles (at least in public) with 26 of 95 blocks assigned. Unlike the previous round, all the onshore winners are companies already doing business in Colombia.
Another postponed decision and conflicting reports on the performance of Pacific Rubiales’ (TSX:PRE) secondary recovery technology Star have shrouded the project, which is the operator’s main bet for its namesake Rubiales field, in uncertainty.
The National Hydrocarbons Agency (ANH) will exclude parámos, or high-mountain tundra- from blocks being offered in the upcoming Colombia Round 2014.
The National Hydrocarbons Agency (ANH) issued its preliminary list of eligible companies, excluding only four from the companies which submitted papers.
The National Hydrocarbons Agency (ANH) has revealed that as of last Friday (July 4) 39 firms have presented all the required documents to participate in the Colombia Round 2014, still below the anticipated 50.
The Minister of Mines and Energy Amylkar Acosta says that Pacific Rubiales (TSX:PRE) is not interested in an extension of the association contract for its flagship field Rubiales, offering instead to install its STAR secondary recovery technology.
The 2014 Colombia Round is slated to start receiving bids this month, and the president of the National Hydrocarbons Agency (ANH) says everything is looking good so far. He also talks about the competition that the round faces globally to attract interested investors.
In the run up to the 2014 Round auctions in late July, the head of the National Hydrocarbons Agency (ANH), Javier Betancourt, and the Vice-minister of Mines and Energy, Orlando Cabrales, have been talking to the press.
Using Occidental (NYSE:OXY) as an example, an outspoken critic of the oil industry argues in a column that the government and controller must review association contracts renewed during President Uribe’s term because the formula to figure the state’s share is outdated, and apply the lessons to contracts up for renewal, such as Rubiales.
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