Colombia: BHP expands in Colombia
BHP buys into Llanos basin
BHP Billiton Petroleum announced it has bought exploration rights for three years to an onshore block of about 7.75 million acres in the Llanos basin, Colombia.
The company signed a technical evaluation agreement with the Agencia Nacional de Hidrocarburos (ANH) to explore block CPE-5.
BHP Billiton holds a 71.4% interest in the block and is the operator.
SK Energy, the petroleum exploration and production affiliate of South Korea’s third largest conglomerate, holds the remaining 28.6%.
The technical evaluation agreement is based on an exploration programme to be undertaken by the company over a three year period. It includes seismic acquisition and processing and exploration drilling.
BHP Billiton is currently exploring two offshore blocks, Fuerte Norte and Fuerte Sur, in Colombia’s Caribbean Sector.
The company holds a 75% interest in each block and is the operator.