On March 25, 2021, the National Hydrocarbons Agency ("ANH") carried out the pre-launch presentation of the fourth round of the Permanent Process for the Allocation of Areas ("PPAA"), which it called Colombia Round 2021 ("Colombia Round").

Within the pre-launch, the ANH announced that thirty-two (32) areas would be offered for the exploration and production of oil and gas. Twelve (12) of such areas will be offered for Technical Exploration Agreements or TEAs, and twenty (20) for the modality of Exploration and Production Contracts (E&P). 

These areas will be distributed in the following basins: (i) Urabá; (ii) Colombia; (iii) Choco Onshore; (iv) Sinú San Jacinto; (v) Lower Magdalena Valley; (vi) Middle Magdalena Valley; (vii) Upper Magdalena Valley; (viii) Eastern Plains; (ix) Tumaco Offshore; and (x) Choco Offshore.

Offshore operations will be focused in Urabá, Colombia, Tumaco Offshore, and Choco Offshore basins. The onshore operations will be centered in the Sinú San Jacinto, Choco Continental, Lower Magdalena Valley, Middle Magdalena Valley, Upper Magdalena Valley and Eastern Llanos basins.

Additionally, the ANH preliminarily established the following schedule for the bids for the Colombian Round:
 

Finally, the ANH announced some novelties that will be implemented for this Colombia Round, among them are: 

•    A new, more agile, and simplified contractual model based on the clauses of the Colombia Round 2010, such as the restricted operator.
•    Release and redefinition of areas in the land map.
•    Free access to complete information packages (dataroom).
•    Adoption of blockchain technologies.
•    Time spaces available for interaction with the industry.
•    Review of the qualification criteria for exploration and production.