Noble Teams Up With Shell In Colombia Offshore Venture Noble Energy has acquired a 40% stake in Royal Dutch Shell’s COL-Three and GUA OFF-Three blocks off Colombia’s Caribbean coast.

The Houston-based producer may even function the 2 property, which cowl a complete space of eight,800 sq. km, Colombia’s National Hydrocarbons Agency (ANH) stated in a submitting on March 26. The ANH had awarded Shell the E&P contract for the acreage simply days earlier. Financial phrases of the deal weren’t disclosed.

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“This is a severe wager by two nice corporations on the potential of Colombian offshore that can undoubtedly carry progress and wellbeing to the entire Caribbean area,” ANH president Luis Miguel Morelli stated within the submitting.

According to the ANH, the companions will make investments round US$100 million in a first-stage minimal exploratory programme, with spending anticipated to high US$650 million if the 2 wells are absolutely developed.

Ian Gordon, basic supervisor at Noble Energy Colombia, stated the corporate anticipated drilling its first effectively after it has analysed prospects and acquired the required permits. Noble at the moment operates onshore oil and gasoline property within the US and offshore blocks within the Eastern Mediterranean and West Africa, in accordance with its web site.

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