ROUND COLOMBIA 2012 AHEAD (Hydrocarbons Blocks Bidding Process).

ROUND COLOMBIA 2012 AHEAD (Hydrocarbons Blocks Bidding Process).

Colombia is preparing a bidding process for 109 hydrocarbons blocks for exploration and explotation.

The great global interest in unconvencional hydrocarbons is a factor that Colombia must take advantage of. The country is the second in the region with unconvencional hydrocarbons reserves after Argentina.

The bidding process that is being prepared by the Minister of Mining and Energy, Dr. Mauricio Cardenas, has 31 blocks oriented to the exploration and explotation of unconvencional hydrocarbons. Fact that has been that the largest hydrocarbon firms of the world pay attention to that bidding round.

That is one of the reasons why the three largest companies of the world, regarding its market value, already bought the technical package of information for those bidding process, according to the ANH (spanish acronym for National Hydrocarbons Agency). The companies are Exxon, Shell and Conoco Philips; and this three major companies are thinking into enter the colombian market to explore and exploit this blocks, mostly the unconvencional that required more investment and expertise due to its complexity, than the mature basins.

According to the analysts and the information available the Crown Jewel would be the La Luna formation, and the block that all the companies would like to win in the bidding process.

Another multinational companies that has been showing some interest in the bidding process are Petrobras and Chevron.