(ANH, 1.Dec.2020) — Colombia’s National Hydrocarbons Agency – ANH signed 4 new contracts as a conclusion of the third cycle of the Continuous Area Nomination Process, PPAA.
Parex Resources and CNE Oil & Gas were awarded four areas, with associated investments estimated at approximately $40mn.
| COMPANY | AREA NAME | MUNICIPALITY |
| Parex Resources (Colombia) LTD | LLA 134 | Puerto López y Puerto Gaitán, Meta |
| Parex Resources (Colombia) LTD | VIM 43 | Sabanas de San Ángel (San Ángel) y Pivijay, Magdalena |
| CNE Oil & Gas S.A.S. | VIM 44 | San Marcos, Sucre |
| CNE Oil & Gas S.A.S. | VMM 47 | Barrancabermeja, Sabana de Torres y Puerto Wilches, Santander |
“The signing of these four contracts, which represent an associated investment of approximately $40mn, are a sample of how the government’s policies for the reactivation of the hydrocarbon sector have worked, because after five years without signing new exploration and production contracts, we will close 2020 with 30 new contracts thanks to the Continuous Area Nomination Process. This sector will continue to be the core of the sustainable reactivation as a gateway to investment and employment generation, as well as the fundamental axis of our energy self-sufficiency,” said the Minister of Mines and Energy, Diego Mesa Puyo.
“The result of the third cycle of the PPAA is the reflection of a sector that has remained active and in force, despite the challenges posed by the pandemic and the price crisis and also of the stake that companies like Parex and Canacol have made in the Colombian industry. We already have great expectations for the fourth cycle, the Colombia Round 2021, which will present an attractive offer of opportunities, the revision of the contractual terms and the simplification of the processes,” assured Armando Zamora Reyes, President of the ANH.
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