Colombia’s Agencia Nacional de Hidrocarburos (ANH) announced the final terms of reference this month on its 2010 licensing round. Winning bids are expected to be announced in June, with contract execution planned for July and August.

The ANH has segregated the 225 available blocks into three licence types with increasing levels of uncertainty and accompanying thresholds for participation:

• Type 1 – E&P Miniround
• Type 2 – New Prospective Basins
• Type 3 – Special Technical Evaluation Agreements

The fiscal terms have been modified slightly since the 2008 round, but still reflect Colombia’s desire to attract foreign investment. In contrast to some Latin American neighbours, Colombia’s licensing policies have resulted in increases in licensing, exploration drilling, and discovery size over the past five years.

Click on the Register your Interest button above for the 'Insight Article' written by our Latin American Upstream research team.

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