APA Corporation agreed to develop an exploratory well in “block 6” within a period of 4 years. While Shell did the same in “blocks 2 and 7”.
Expiring already on the first Monday of the month the term for the prequalification of companies for the second annual round, five new companies applied. All of them complied with the presentation of the documents required to qualify, as well as a letter of intent.
Interested oil companies can bid and qualify at any time of the year. However, the opening of offers consists of only two annual windows (May and November). Finally, the award will be made between december and februarywhere Ancap will choose the best bidder.
In the event of a conflict of interest in the same area, the block will finally be awarded to the one with the best rating (to compare value, benefits and requirements met). An example of this case was Shell, which was finally determined to be the best efferent for “block 2”.
From Ancap they assured that “it is all related to the energy transition in the world and the need to generate (renewable energyand also ensure transition with fossils.
Likewise, the company that was awarded “block 1” (Challenger Energy Group – former Bahamas Petroleum) committed itself, initially for a period of four years, to the processing and interpretation of historical seismic data exclusively selected (unperforated).
Source: Ambito
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