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Colombia PPAA round marks a long-awaited return

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25 July 2019

Colombia PPAA round marks a long-awaited return

Report summary

Colombia`s return to the bid round scene proved to be remarkable. After half a decade away from licensing rounds, the first cycle of the Permanent Offer (PPAA) auction resulted in 11 out of 20 areas awarded. The terms are unchanged but a new administration is boosting confidence in the sector. These results demonstrate the success of the government's effort to extend the country's reserves. We expect the awarded blocks to increase the remaining reserves by 20% and spur investment.

Table of contents

  • Executive Summary
  • First cycle of licensing rounds closes with more than half of the blocks awarded
  • The Hocol-GeoPark consortium won the most blocks
  • Most investment in Colombia will come through bid rounds

Tables and charts

This report includes 3 images and tables including:

  • Twenty blocks across six basins were offered in the first cycle of Colombia's PPAA round
  • Although the Llanos basin blocks received the highest additional commitments, VIM 22 stood out
  • Only the Indian ONGC Videsh left the round with no operated blocks

What's included

This report contains:

  • Document

    Colombia PPAA round marks a long-awaited return

    PDF 1.24 MB

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