Colombia's Response to Oil Rout: More Auctions and Fewer Rules
- Hydrocarbons agency targets greater investment through reforms
- Bidders to receive environmental, community, security data
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Colombia plans to increase the frequency of oil license auctions to at least two a year and offer bidders more data and fewer rules as crude-producing nations scramble to attract investment amid slumping prices.
Under draft proposals that the National Hydrocarbons Agency, or ANH, will present to its board on Thursday, interested drillers will receive security, environmental and infrastructure data for available blocks, as well as the more standard geological and geophysical information, ANH President Mauricio De La Mora said in an interview.