Investment in Colombia and the new Permanent Allocation of Areas Process (PPAA)


Dr. Luis Miguel Morelli, President, National Hydrocarbon Agency. The new Permanent Allocation of Areas Process (PPAA), with its initial offer of 20 blocks, aims to significantly change the dynamics of the hydrocarbon sector in Colombia. If expectations are met and new contracts are signed on these areas, the country would receive an additional investment of more than 600 million dollars, and an additional 1,000 MMboe (million barrels of oil equivalent) could be converted into reserves and some 13 additional TCF (trillion cubic feet) into gas.

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