Colombia to offer up to 40 blocks in next oil auction

Canacol Energy (Alberta)

20/11/2020 20:00

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.  urn:newsml:reuters.com:*:nL1N2I32S7
    The offers have an estimated value of $40 million. 

 (Reporting by Oliver Griffin
Editing by Sonya Hepinstall)
 ((Oliver.Griffin@thomsonreuters.com; +57 304-583-8931;))