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Saturday, 30 August, 2008, 11:40 GMT | more prices >>

Colombia set for mini round for 100 blocks

News wires

Colombian state hydrocarbons regulator ANH will launch a "mini round" for 100 blocks throughout Colombia on 24 June, said ANH director Armando Zamora.

The round includes nine blocks in the Putumayo basin, 21 blocks in the Middle Magdalena basin and 30 blocks in the Upper Magdalena basin, ANH announced at its investment conference in February.

Both the 2008 Colombian round and a special by-invitation-only heavy crude round are advancing according to schedule, Zamora said.

Twenty companies have qualified for the heavy crude round, Zamora told Business News Americas.

ANH hopes to award the blocks this month.

"The companies will be proposing the investment amount for each block. As technical evaluation contacts will be signed for the blocks, the proposed investment will be the principal factor in awarding them," he said.