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Colombia awards new concession for Niscota oil field
Petroleumworld
CARACAS
Petroleumworld.com 09 13 06
Colombia's the government oil licensing agency, the National Hydrocarbons Association - ANH, awarded to comsortium compose of Hocol, a subsidiary of France's Maurel Et Trom; Tepma, a subsidiary of Total; and Talisman Colombia Oil and Gas, concessions to explore and extract oil from the Colombian Niscota oil field in an auction held Tuesday.The goverment awarded the concession to the comsortium after it offered to transfer 61% of oil and gas production to the government. France's Perenco, was the only other bidder.
"Niscota is one of the on-shore areas with the greatest possibility in Colombia," said Carlos Machado, the head of opportunities with Hocol.
The group led by Tepma and Hocol is to invest at least $85 million in exploration in the first three years, said Armando Zamora, head of the ANH.
BP explored the Niscota field during 2000- 2005, in association with Ecopetrol, but relinquished it after it didn't find any profitable reserve.
The Niscota field, located in the Llanos basin, shares the same geological features as the field Cusiana-Cupiagua, the country's largest, Zamora said.
Petroleumworld 12 09 06
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