(Energy Analytics Institute, 1.Jul.2020) — With the five expressions of interest and/or requests for the incorporation of areas presented by two companies, Colombia’s National Hydrocarbon Agency (ANH) will firmly begin the third cycle of the Permanent Allocation of Areas Process (PPAA by its Spanish acronym).
The third cycle contemplates the deposit of offers on 30 October 2020, and counter-offers on 17 November, with which, the allocation of areas without counter-offers will take place on 27 November and finally the respective signing of the contracts will follow on 30 November, the ANH announced 1 July in an official statement.
The areas object of counter-offers will be awarded on 14 December, with the signing of contracts expected on 15 December.
The modifications made to the PPAA allow the ANH to have a reasonable expectation about receiving firm offers for the requested areas, the agency said.
The fourth cycle of the PPAA, scheduled for 2021, is already under review and regarding the contractual terms and the preparation of the new areas that will be offered by the ANH.
“The hydrocarbon sector will play a fundamental role in the economic reactivation of the country,” said ANH President Armando Zamora in the statement.
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By Piero Stewart. © Energy Analytics Institute (EAI). All Rights Reserved.
