BOGOTA, Colombia – Noble Energy has secured approval from Colombia’s Agencia Nacional de Hidrocarburos (ANH) to acquire a 40% interest from Shell in the COL-3 and GUA OFF-3 exploration concessions in the Caribbean Sea.
Under the transaction Noble will also operate in both cases.
The permits cover a total area of more than 880,000 ha (8,800 sq km). ANH estimates the cost of the first-phase exploration commitments at more than $100 million.
María Duque, president of Shell in Colombia, said all required approvals had come through from the government.
Ian Gordon, general manager of Noble Energy Colombia, said the partners would seek to drill their first well after detailed analysis of prospects and obtaining further approvals.