ANH Unveils Plans for Future Bidding Rounds
Colombia's hydrocarbons agency ANH will offer onshore areas near the Caribbean coast and the heavy crude Llanos belt in next year's bidding round, ANH director Armando Zamora said during a presentation.
Specifically, ANH will offer properties for the hydrocarbons bidding round due to start next year in the following areas: Sinu-San Jacinto along the Caribbean coast; Cesar Rancheria near Colombia's northern border with Venezuela; Soapaga in the country's central region; and a southern portion of the Llanos heavy crude belt.
Zamora was speaking at the 2nd Colombia Oil and Gas Investment Conference in the city of Cartagena.
The bidding will likely start in the second half of 2007 and could wrap up in 2008 after a process that could take roughly eight months, a different ANH official told BNamericas.
In addition, ANH aims to launch bidding in 2008 for the Choco region along Colombia's Pacific coast and a portion of the Llanos region. Bidding in 2009 would include a portion of Llanos that borders Venezuela.
The rounds are part of Colombia's strategy to attract investment to boost oil output in order to sustain the country's self-sufficiency, Zamora said.
If the country does not expand its reserves in coming years, demand will meet and start exceeding supply somewhere around 2011, according to a chart he showed.
In a "base case" scenario of moderate reserve increases, demand would meet and start exceeding supply sometime in 2019.
And according to a "favorable" case of strong reserve growth, demand would fail to surpass supply through 2025.
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.
- Colombian ANH's 'Open Round' Roadshow Visits Houston (Feb 04)
- Ecopetrol Hits Hydrocarbons at Tempranillo North-1 (Jan 29)
- Colombia's ANH 'Open Round' Arrives in Calgary (Jan 27)