The offshore industry has been popular among top global firms who decided to bet on Colombia’s Caribbean area. The ANH thinks new blocks in the Pacific might have just as much success.
Iván Duque, President of Colombia, pledged to promote the development of the oil sector in Colombia and his government has taken several steps to achieve it. Luis Miguel Morelli, President of the National Hydrocarbons Agency (ANH), spoke on this topic.
The Colombian government announced the terms of reference for the Permanent Competitive Process (PPAA), generating high expectations in the oil sector. The companies have shown their interest in developing oil projects in new regions of the country.
The oil sector has been announcing agreements and alliances in recent weeks with the aim of reactivating the exploratory activity in the country. Ecopetrol (NYSE: EC) and Repsol (MSE: REP) will develop a new offshore project in the Caribean coast.