Colombia updates acreage map for licensing rounds

Colombian hydrocarbons regulator ANH has updated a map of areas available to companies in its permanent licensing process.

Interested firms or consortiums can ask the agency to incorporate the areas in upcoming cycles of the PPAA, as the process is known in its Spanish acronym. 

The map, which also shows blocks already under contract and areas previously included in the PPAA, can be seen here. 

"With this update ... interested investors will be able to make requests according to the current circumstances of the country," ANH said. 

Meanwhile ANH is considering extending deadlines for payments of economic rights by block operators. However it said royalties would continue to be collected. 

The announcements form part of a package of measures taken by the regulator to mitigate the effects of the coronavirus outbreak and a price war between Russia and Saudi Arabia.

The twin demand and supply shocks have prompted operators to slash investments as global oil prices fall to decades old lows. 

"In this way, [we] ensure the continuity of operations of the hydrocarbon industry in the midst of the complex current circumstances," ANP said. "In addition, [we] seek to lay the foundations for a rapid reactivation of the sector once the [crisis] is overcome."

Other steps taken by ANH in the past month include, a postponement of the PPAA biding schedule and an extension of deadlines for exploration obligations.

In addition, the agency has granted operators the chance to redirect investments in stalled exploration projects to other upstream activities.