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Colombia will launch this month the schedule for its 2021 licensing round offering 32 blocks for oil and gas exploration and production, with results expected in November, the head of the nation’s oil regulator told Reuters on Thursday. Last year, Colombia awarded three areas to Canada-based companies Parex Resources and Canacol Energy despite a collapse in global oil demand and prices that forced other Latin American nations to suspend or postpone rounds. Hoping to return to pre-pandemic oil demand and production levels next year, the National Hydrocarbon Agency (ANH) expects to award at least 15 of 32 conventional oil and gas areas selected in several basins through its Ronda Colombia 2021. "Our priority in 2020 was to offer companies relief," Armando Zamora, head of the ANH, told Reuters in an interview on the sidelines of the CERAWeek energy conference organized by IHS Markit. Even after measures to secure cash in hand for oil firms, Colombia’s crude output declined to an average of 781,000 barrels per day (bpd) last year and only 18 exploratory wells were drilled versus 45 planned. Most of the expected investment was differed to 2021-2022. He expects production to average about 800,000 bpd this year, rebounding […]
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