Anglo-Dutch supermajor Shell has finalised exploration and production contracts for two blocks off Colombia, with expectations to drill an exploration well by next year at the latest, writes Julia Martinez.
Shell’s Col-3 and Gua-3 tracts in the Caribbean Sea were upgraded from technical evaluation agreements to exploration and production contracts early last week.
The blocks cover around 800,000 hectares and will attract investment commitments of more than $100 million during the first exploration phase spanning four years.
