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National Hydrocarbon Agency
In 2003, the restructuring of the Colombian hydrocarbon sector was consolidated with the creation of the National Hydrocarbon Agency – ANH, which gave way to a remarkable recovery of the oil sector, positioning Colombia as a highly prospective and attractive country for national and foreign investors.
Since then, the agency has been working with efficiency, transparency and innovation to promote the optimal and sustainable use of the country´s hydrocarbon resources, managing them integrally and harmonizing the interests of communities, government´s entities and companies in the regions with oil & gas activity.
The ANH offers dynamic and competitive investment opportunities to different stakeholders through the Permanent Process of Area Allocations (PPAA). Recently, the agency updated the land map with 415 new areas available for investors who wish to express or nominate their areas of interest, adding to the 464 already allocated in the country.
By the end of 2021, proven crude oil reserves amounted to 2,039 Mbl, which represents a net increase of 12.3% (223 Mbl), compared to the previous year, when 1,816 Mbl were reported.
In gas, proven reserves reached 3,163 Gpc, which represents an increase of 7.3% (215 Gpc) compared to the previous year, when 2,949 Gpc were reported.
In the case of gas, the country has an enormous potential to incorporate new offshore reserves and develop Unconventional Reservoirs (YNC), if the Integrated Research Pilot Projects (PPII) are successful. This is in addition to the potential already identified in the naturally fractured reservoirs of the Middle Magdalena Valley and the Cesar – Rancheria Valley.
Regarding crude oil and gas, the greatest opportunities lie in the Llanos Basin and the Middle Magdalena Valley, along with the development of YNCs.
The ANH's Colombia 2021 Round had a success rate of 56%, where 30 of the 53 areas submitted and offered were awarded. This was largely due to the wide offer of areas, new and more attractive contractual conditions and the implementation of Blockchain technology for better access and participation of interested companies.
With the implementation of its 2040 Plan, the ANH focuses on evaluate, design and develop a strategic investment plan for the acquisition of geological information to propose new areas with a lower risk rate by developing research studies to identify and evaluate the country's hydrocarbon potential and in order to replacement 150% of 2020 reserves and incorporate 3.000 new reserves (MMBOE), the exploration of 800 wells and 200 new contracts signed.
In 2022, the ANH continues to promote investment and dynamism in the sector, through the permanent qualification of interested companies in a new scenario where major advances are expected in the energy transition process through which still needs fossil fuels.
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