Colombia oil auction has 16 companies qualified to bid

BOGOTA, Oct 23 (Reuters) - Sixteen companies are qualified to bid in Colombia’s auction of four onshore oil blocks later this year, the national hydrocarbons agency (ANH) said on Friday, including international producers like Parex Resources .

The ANH received 19 submissions from companies interested in bidding in the upcoming auction, including 16 previously authorized companies and three new entrants.

Of the companies allowed to take part in the auction, 15 were previously authorized. French company Maurel & Prom was the only successful new company.

“Colombia offers solid regulation, a favorable fiscal framework and attractive contractual conditions, which has established confidence among the oil companies which have qualified for the third permanent process of assigning areas,” ANH president Armando Zamora said in a statement.

Bids on the four blocks will be made at the end of this month. (Reporting by Oliver Griffin Editing by Chris Reese)