ON 17 JULY, THE ANH (COLOMBIAN HYDROCARBONS REGULATOR) ANNOUNCED THE FINAL LIST OF COMPANIES THAT WILL PARTICIPATE IN THE OIL & GAS AUCTION, KNOWN AS RONDA COLOMBIA 2014. IN TOTAL 38COMPANIES WILL COMPETE FOR THE AUCTIONED AREAS.

The ANH and the Ministry of Mining and Energy (Minminas) published the terms of the auction on 21 February and interested companies submitted their proposals from 2 May to 19 June.

The aim of the auction is to encourage investment in the hydrocarbons sector and to continue progress in energy policies that aim to increase crude production and reserves in Colombia.

In the auction, Colombia will offer 101 licenses for conventional and unconventional, onshore and offshore oil and gas blocks, located on the Atlantic and Pacific coasts, Llanos Orientales, and the Putumayo region, among others.

1. Next steps

After publication of the final list of companies authorised by the ANH, bids will be submitted for the auctioned areas on 23 July. The selected companies will submit their bids for the areas they want to explore.

2. Schedule

  • 23 July – Opening of proposals: Submission of bids and guarantees by the selected companies
  • From 24 to 30 July – Validation of the bids by the ANH
  • 31 July - Publication of the preliminary list of selected bids
  • 11 August - Publication of the final list and awarding of the auctioned areas. If no bid is selected for a specific area, a new auction will be opened
  • 12 August - Signing of contracts

At this first stage of the auction, the ANH expects to award between 30% and 40% of the blocks on offer, with an approximated investment of US$ 2.6 billion.

Separately from the blocks due to be auctioned, the ANH is preparing a new package of eight coalbed methane blocks (CBM), which has yet to be officially tendered.