ANH will start the process to award the 10 blocks for natural gas and possibly oil E&P on September 24.
The project is dubbed Ronda Caribe (Caribbean round) as the blocks are located along the Caribbean coast, which starts at the border with Venezuela and ends near Panama.
"We think there could be significant amounts of crude, but winners can perform E&P for whatever they find, really," the official said.
ANH is retaining specialized firms in oil and gas reserve-assessment to better measure the blocks.
Ronda Caribe will be ANH's most aggressive attempt to get private energy firms involved in natural gas E&P since the agency was created in 2003.
ANH has awarded 22 oil E&P contracts this year. Ronda Caribe will be this year's first offshore gas E&P round.
Visit BNamericas to access our real-time news reports, 7-year archive, Fact File company database, and latest research reports. Click here for a Free two week trial to our Latin America Oil & Gas information service.
Most Popular Articles
From the Career Center
Jobs that may interest you