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Financial News: COLOMBIA: Agency To Auction 15 Oil Blocks In

COLOMBIA: Agency To Auction 15 Oil Blocks In November

09/12/2017 - 19:14:00 (RTTNews)

(RTTNews) - Colombia will auction 15 oil blocks in November through the National Hydrocarbons Agency. The Colombian government expects to raise US$ 300 million in initial investments.

These blocks are in the Sinú San Jacinto basin, between the departments (states) of Sucre and Bolívar, through which the government seeks to guarantee self-sufficiency in hydrocarbons for a further five years.

According to Colombia's National Hydrocarbons Agency, after an audit that will last from September 13 to 29, at least 50 companies will be selected. From October 5 to November 8, the chosen companies will be able to enlist in the auction.

The qualified companies will be known on November 24. Finally, bids will open on November 29.

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