Colombia's National Hydrocarbons Agency (ANH) President Ernesto Forero said on Wednesday that the country aims to offer new oil exploration opportunities in the first quarter of 2027.
"We are making internal decisions to determine which areas are ready; we are defining the best alternative; we are ensuring that the economic situation is favorable, and we hope that, I think, the first quarter of 2027 will be a time when we will be able to materialize all this foundation and diagnosis that we have been doing," Forero said.
"We want to move quickly, but not hastily," he added, while encouraging companies to invest in widening production at existing oil fields. In early October, ANH reserved approximately 19.9 million hectares for potential new oil and gas contracts after over four years under former President Gustavo Petro's policy of limiting exploration expansion.
https://breakingthenews.net/Article/Colombia-eyes-new-oil-exploration-contracts-in-2027/67484606
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