Ecopetrol, Parex and Geopark among the companies that will participate in the next oil auction

Ana María Sánchez – amsanchez@larepublica.com.co

The National Hydrocarbons Agency (ANH) released, through its website, the list of companies authorized to participate in the third cycle of the oil auction, which aims to continue encouraging the reactivation of the sector.

According to the list, there are 16 companies that may participate in this third Permanent Area Allocation Process (ppaa), including Ecopetrol, Frontera Energy, Geo Park, Oxy, Gran Tierra, Parex Resources, Occidental Andina, among other.

And although the list does not confirm that these will be the final companies that will participate in the bid, the truth is that as of October 22, the firms that will definitely enter the business will be known.

According to the regulatory agency’s schedule, initial offers are due to be submitted on October 30 and counter offers will be received on November 17, and contracts will be awarded for areas without counter offers on November 27 and those for those with counter offers on November 14. from December.

Among other things, the ANH also revealed the companies that will not participate in the auction and stand out names such as two subsidiaries of Ecopetrol: Hocol and Ecopetrol Costa Afuera, Amerisur, Noble Energy and others from Asia.

This third auction cycle joins two others that were carried out in 2019 and for which, finally, 26 oil exploration and production contracts were signed.

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