Area Allocation Regulation for hydrocarbon exploration and production  

Bogota, Colombia. September 6, 2016. In order to complete the final stage necessary for its issue, the National Hydrocarbons Agency presents the industry and other stakeholders with the latest version of the Agreement, which will introduce changes to current regulations regarding criteria for the management and allocation of areas for hydrocarbon exploration and operation. This document reflects the analysis of the comments made regarding the text published at the start of the year, as well as the Agency's joint work to promote and meet the needs of the country and industry in this particular matter.

The draft sets out the various contractor selection methods for the allocation of areas, a new scoring system for the assessment of exploratory programs (replacing the Unit Price List), as well as a development regarding the Interested Parties Register, which offers an innovative approach that seeks to incorporate speed into the implementation of the various selection procedures, as well as provide clarity and accuracy to interested parties regarding the requirements that they must meet in our country for the successful allocation of areas.

We feel confident that the Regulation presented for review offers competitive advantages and enhances opportunities to revive the sector with new investment.

Comments can be sent to the ANH exclusively via the email address asignaciondeareas@anh.gov.co, from the 7th to the 25th of September 2016.

Please indicate the name, entity and contact details for the person sending the comments.

 Click on the following link to download the text from the latest version of the Area Allocation Regulation: 

·         Area Allocation Regulation for hydrocarbon exploration and production​

·         Annex 1 -Glossary of Terms, Units and Equivalences​