Latin American Economy & Business - February 2018 (ISSN 1741-7430)

The results of the latest auction of oil and gas blocks (known as Phase 4, Round 2) were announced on 31 January and quickly hailed by officials as one of the most successful to date. Earlier, the authorities had said that awarding seven or more blocks out of the 29 on offer would qualify as a success. In the event 19 blocks, representing total investment commitments of up to US$93bn, were allocated to bidders.