Colombia's PPAA round maintains the momentum

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19 December 2019

Colombia's PPAA round maintains the momentum

Report summary

Colombia maintained its high spirits during the second cycle of the Permanent Offer (PPAA) auction. A total of 15 onshore blocks were awarded, from a total of 59 that were initially offered. Ecopetrol and its subsidiary Hocol emerged as the most aggressive participants, winning five blocks. Parex and Canacol won three blocks each. During both PPAA cycles held during 2019, Colombia was able to assign 26 blocks, marking a positive comeback to licensing rounds for the country.

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