Colombia's National Environmental Licensing Authority (Anla) has approved Frontera Energy Colombia's VIM-46 oil exploration project in Magangué. The initiative involves drilling up to 55 wells from a maximum of 11 platforms and installing production infrastructure. The approval comes with strict environmental compliance conditions.
Colombia's Anla has granted an environmental license to Frontera Energy Colombia's VIM-46 project for hydrocarbon exploration in Magangué, Bolívar department. The plan includes drilling up to 55 exploratory wells using up to 11 platforms, each impacting about five hectares, along with infrastructure to handle production. The goal is to confirm hydrocarbons through production tests and assess commercial viability. Prior to approval, Anla reviewed the Environmental Impact Study and checked technical and legal compliance. Deemed viable, the project must prevent, mitigate, and control environmental impacts under ongoing Anla monitoring. This follows Frontera Energy's early March acceptance of a US$525 million offer from Parex Resources for its Colombian exploration and production assets. Parex stated the deal will form Colombia's largest independent energy company.