Niscota is in the Piedemonte area in Casanare department and potential reserves could be as much as 500 million barrels.
The regulator will publish a list of qualified companies on July 24 and plans to open a data room and provide access to 3D seismic information from August 10-24. Bids are due September 1, the same day they will be opened and the contract awarded.
UK oil major BP (NYSE: BP) spent US$80mn on exploration at Niscota but relinquished the block in July 2005 after failing to find commercial quantities of oil or gas.
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