Hocol, Talisman, Tepma win Niscota E&P Contract

Niscota Block, Colombia
(Click to Enlarge)
A joint venture made up of Colombian oil firms Hocol and Tepma plus Canada's Talisman Energy (NYSE: TLM) has won the E&P contract for the Niscota oilfield in Colombia, an official at hydrocarbons regulator ANH told BNamericas.

ANH shortly will publish the E&P schedule and the specific percentage that each of the three parties holds in the consortium.

"It's a temporary union, a joint venture if you wish," the official said. "They offered a participation of 61% in the production to be paid in kind, in crude."

Niscota is the 23rd E&P contract ANH has awarded this year out of a planned 30.

Niscota is in the Piedemonte area in Casanare department and potential reserves could be as much as 500 million barrels.

In addition to the winning companies, the following qualified to bid for Niscota: Colombia's state oil company Ecopetrol; Spain's Repsol YPF (NYSE: REP); UK major BP (NYSE: BP); London-based Perenco; Argentina's Pluspetrol; and Russian giant Lukoil.

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