Colombian bid round: old and new challenges
A combination of social disputes and competition from Guyana and Suriname is hampering Bogota’s efforts to attract further investment
Colombia’s state licensing regulator, the National Hydrocarbon Agency (ANH), announced in December the winners of the country’s second oil auction of the year. Blocks 123 and 124 in the Llanos Basin, an oil rich region in the east of the country, were awarded to a consortium headed by Latin American-focused operator Geopark—taking a 50pc stake—with Hocol, a subsidiary of the Colombian state controlled Ecopetrol, holding the remaining equity. The only other competitor for Block 124 was from Canadian firm Parex Resources. Geopark described the expansion of its Colombian portfolio and the acquisition of the blocks, which total an area of nearly 116,000 gross acres, as “attractive, low-risk, hig
Also in this section
12 December 2025
The federal government is working with Alberta to improve the country’s access to Asian markets and reduce dependence on the US, but there are challenges to their plans
12 December 2025
The latest edition of our annual Outlook publication, titled 'The shape of energy to come: Creating unique pathways and managing shifting alliances', is available now
11 December 2025
The removal of the ban on oil and gas exploration and an overhaul of the system sends all the right messages for energy security, affordability and sustainability
10 December 2025
The economic and environmental cost of the seven-year exploration ban will be felt long after its removal
