(Energy Analytics Institute, Piero Stewart, 3.Apr.2019) — Colombia’s National Hydrocarbon Agency (ANH) announced that Ecopetrol, Repsol Exploración Colombia S.A., and ExxonMobil Exploration Colombia Ltd signed two separate offshore exploration contracts for the “Gua Off-1” and “Col-4” blocks, ANH said 3 April 2019 in an official statement.
Execution of both contracts includes development of an exploratory program that, if carried out in its entirety, that will require estimated investments that would exceed $700 million, ANH said.
“Gua Off-1” covers an area of 400,000 hectares and is located about 78 kilometers from the coast, near the department of La Guajira. The contract partners Repsol (operator, 50% working interest) and Ecopetrol (50% working interest).
“COL-4” covers an area of 400,000 hectares and is located about 100 kilometers from the coast, opposite the department of Bolívar. The contract partners Repsol (operator, 50% working interest) and ExxonMobil (50% working interest).
“The signing of these two offshore exploration and production contracts ratifies the confidence from important companies such as Repsol, ExxonMobil and Ecopetrol, and shows that the hydrocarbons reactivation policy promoted by President Ivan Duque is becoming a reality,” ANH President Luis Miguel Morelli said in the statement. “We hope this commitment to the offshore potential of the country will translate into development and well being, especially for the Caribbean region.”
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