Colombia has designated an additional 19.9 million hectares for oil and gas contracts, including 4.7 million offshore hectares, under a new government resolution, the National Hydrocarbons Agency (ANH) said on Tuesday.
The resolution is part of a broader push by President Abelardo De La Espriella to restart hydrocarbon exploration and allow fracking, reversing a ban imposed under leftist former President Gustavo Petro.
The resolution covers areas located in 12 sedimentary basins, both onshore and offshore, the ANH said.
The ANH said the resolution will allow studies to define bidding process types, reference terms, business models and contract conditions for future offerings.
The ANH resolution was signed on October 2.
In late September, Ecopetrol CEO Joaquin Gutierrez said the state-controlled company, Colombia's largest oil producer, would advance conventional and unconventional projects including fracking.
Colombia is exploring options to address a growing gas supply deficit, including potential imports from neighbouring Venezuela.
(Reporting by Nelson Bocanegra, Editing by Kylie Madry and Sanjeev Miglani)