Petrobras to Participate in Ronda Caribe Bidding

Brazil's federal energy company Petrobras (NYSE: PBR) aims to participate in bidding that includes 10 natural gas E&P blocks on the Colombian coast, Joao Carlos Araujo Figueira, Petrobras executive manager for the Americas, Asia and Eurasia, told BNamericas in an email.

In December, Colombia's hydrocarbons regulator ANH will hold the bidding process, dubbed Ronda Caribe.

"Petrobras will participate in the bidding process and seek to acquire every aspect of information available for the evaluation and support of a corporate decision regarding Ronda Caribe," he said.

The bidding area is unique because it hosts potential and low exploratory maturity in deep waters beyond 400m, he said, adding the available indirect geological and geophysical data is attractive.

"However, Colombia's Caribbean basin presents particularities that require research and new geophysical data," he said.

Low exploratory maturity theoretically means hydrocarbons will flow naturally, without the need for expensive secondary recovery methods.

In addition, Petrobras knows the area.

"Petrobras already has investments in the Tayrona E&P contract," he said.

Ronda Caribe will be one of ANH's most aggressive attempt to get private energy firms involved in natural gas E&P since the agency was created in 2003.

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