After $40 mn in offers, Colombia will sign contracts with Canadian companies for four oil blocks

Colombia will sign contracts with two Canadian oil and gas companies for four onshore blocks after no counteroffers were made during the country’s most recent energy auction. CNE Oil & Gas, a subsidiary of Canacol Energy Ltd , and the Colombian arm of Parex Resources Ltd each placed two bids in an initial auction at the end of last month, worth an estimated $40 million in total.

Source: Reuters