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Oxy enters into four Colombia exploration blocks

Jun 12, 2019
1 min read
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Occidental Petroleum entered into four exploration and production blocks in Colombia, acquiring a 50 per cent interest from Amerisur Resources, the National Hydrocarbons Agency (ANH) said.

The blocks, Tacacho, Terecay, PUT-9 and Mecaya, together, exceed 554,000 hectares in in the Putumayo province which has high potential for oil discovery.

“These are four very important blocks in Putumayo, a very prospective area of ​​the country that’s developing in leaps and bounds,” ANH President Luis Miguel Morelli said in a statement.

The strategic alliance with Occidental will boost Amerisur’s position in Putumayo, Carlos Andrés Martínez, CEO of Amerisur Exploration Colombia said.

Colombia, with proven reserves of almost 2 billion barrels, is looking to increase reserves to at least 10 years of consumption by offering areas for exploration, allowing companies to apply to explore in blocks of interest.

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