Seven companies bid for eleven contracts in Colombia oil auction

Seven companies have put in bids for 11 oil exploration contracts in Colombia, the government said on the 4^th June, as the Andean country seeks to revitalise its oil sector.

Frontera Energy, Geopark, Ecopetrol, Hocol, Parex Resources, Gran Tierra Energy and ONGC Videsh have put in a total of 19 offers, the national hydrocarbons agency said.

Ten of the blocks are onshore and one is offshore.

At least 22 companies were qualified to bid on 20 blocks on offer in the auction.

Results of the bidding are expected on the 16^th July.

Source: Energy-pedia