The Colombian government has signed exploration and production (E&P) contracts for four offshore blocks with a subsidiary of Occidental Petroleum.
The blocks offered by the government are located off the coasts of the La Guajira, Magdalena, and Atlantico provinces.
The company from the United States will participate in the COL-1, COL-2, COL-6, and COL-7 blocks through its wholly-owned subsidiary Anadarko Colombia. According to Reuters, the estimated investment in the blocks is US$1.4bn.
The blocks cover approximately 1.6m hectares, according to Colombia's National Hydrocarbons Agency (ANH).