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Colombia to offer up to 40 blocks in next oil auction

Published 2020-11-20, 03:00 p/m
© Reuters.
CNE
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PXT
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By Oliver Griffin

BOGOTA, Nov 20 (Reuters) - Colombia will offer up to 40 blocks for auction at its next oil round, the president of the national hydrocarbons association (ANH) said on Friday, after awarding just four blocks in its most recent sale.

"We have between 30 and 40 blocks," Armando Zamora, said in a virtual press conference for an annual oil and gas conference. "The map is open and will remain open so that companies which want to show interest in another area can do so."

Zamora did not give an exact date for the next round, nor respond to a question about how much the country hoped to earn from possible contracts.

CNE Oil & Gas, a subsidiary of Canacol Energy Ltd CNE.TO , and the Colombian arm of Parex Resources Ltd PXT.TO each made two unchallenged bids on two blocks at the most recent auction, which concluded earlier this week. offers have an estimated value of $40 million.

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