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Colombia to change bidding process in auction for onshore oil sites
7/25/2018

Colombia, which had previously deferred the deadline to accept bids for 15 onshore oil areas until later this year, plans to modify the bidding system in an effort to attract more investment, the National Hydrocarbons Agency said. Amendments will include adjusting contracts to global crude price fluctuations and allowing companies to suggest exploration in areas that have yet to be offered.

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