Colombia Looks to Sweeten Terms for Deepwater Oil Contracts
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Colombia is working to sweeten contract terms for oil and gas companies looking to exploit its harder-to-reach deepwater reserves at an auction this year.
Royal Dutch Shell Plc, Exxon Mobil Corp. and ConocoPhillips are among foreign producers interested in bidding at the July auction of 97 offshore and onshore blocks, Javier Betancourt, head of the Hydrocarbons Agency, said yesterday. Terms for conventional and unconventional contracts will remain the same as a 2012 bidding round.