Colombia finalizes bidding terms for $ 5 bn fracking pilots

Colombian hydrocarbons regulator ANH has published definitive terms of reference for a selection process to hire contractors for unconventional oil and gas pilot wells. Bids are due to be submitted on November 3, with contracts to be awarded on November 23, ANH said. ExxonMobil, ConocoPhillips, Parex and state-run oil firm Ecopetrol are among companies to have submitted plans for unconventional exploration projects in the Middle Magdalena and Cesar-Ranchería basins. The Colombian Petroleum Association (ACP) has said the initiatives could eventually produce 450,000boe/d and attract $5bn in annual investments, helping to replace the country’s dwindling hydrocarbon resources.

Source: Bnamericas