Shell, Repsol Win Oil Blocks at Colombian Auction
By Heather Walsh
Royal Dutch Shell Plc (RDSA) and Spain’s Repsol SA are among winning bidders at Colombia’s first government auction of oil and natural gas blocks in two years as the country seeks investment to boost reserves.
South America’s third-largest oil supplier is also granting licenses to state-controlled Ecopetrol SA, Gran Tierra Energy Inc. and other producers after offering 115 blocks, according to preliminary results on the National Hydrocarbons Agency’s website. The blocks offered today include more than two dozen areas holding oil and natural gas trapped in shale rock. The final list of companies awarded blocks will be published next month.
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