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Article: Colombian E & P tender attracts small firms to onshore blocks.(exploration and production)
- Article from:
- The Oil Daily
- Article date:
- June 15, 2007
- Author:
CopyrightCOPYRIGHT 2007 Energy Intelligence Group. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Colombia's National Hydrocarbons Agency (ANH) on Wednesday signed oil and gas contracts with 11 smaller companies for exploration and production mainly in the Llanos and Magdalena Basins in the country's interior. Although the companies will invest a mere $36 million total, analysts say the contracts mark a larger trend toward greater interest in one of Latin America's few investment-friendly oil producers.
The new contracts indicate Colombia's increasing success at enticing foreign investment to its oil and gas industry. "Overall, it's a signal of the continued commitment of the private sector in Colombia," PFC Energy analyst Roger Tissot remarked.
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