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Colombia – Petrobras is the highest bidder for four blocks
Petrobras was the highest bidder for four of the 13 blocks offered in the Ronda Caribe 2007 auction held by the Colombian National Hydrocarbons Agency (NHA). The company will be the operator in blocks RC-06 and RC-07, holding a 40% share in both. The other companies that will participate in the consortium are Ecopetrol (30%) and Hess Corporation (30%). There was no initial cash disbursement in the auction, since the proposals were evaluated based on the additional percentage of participation in production that was offered to the NHA in the event of commercial discoveries.
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