The deal will also relieve the company of exploratory spending commitments with Colombia's National Hydrocarbons Agency (ANH) and $14 million in loan obligations.
OGPar did not disclose the buyer of the assets, the CR-2, CR-3 and CR-4 blocks in the Cesar Rancheria basin as well as the VIM-5 and VIM-19 areas in the Lower Magdalena Valley.
The company understands that the terms and conditions of this offer are aligned with its restructuring process, given the company is exempt from mandatory exploration costs and other regulatory requirements," OGPar said in a statement.
The
