The Spanish Government is expected to launch a tender for the re-attribution of the Ayoluengo oil field during the last quarter of 2018 or in early 2019. The La Lora concession covering the field was officially terminated by ministerial order dated 14 March 2018, which paved the way for the launch of the tender which was originally planned for the second or third quarter of 2018.   The Ayoluengo field was discovered by Chevron in 1964. It produced in excess of 17 MMbbl of oil between 1964 and 2017. The La Lora concession, awarded to Amoseas Petroleum on 31 January 1967 for 30 years and renewed twice for 10 years, expired on 31 January 2017 as a result of the rejection of an application for a 10-year renewal filed by the last operator of the field Compania Petrolifera de Sedano (Columbus Energy Resources). The company estimates that an additional production of 10 to 20 MMbbl of oil is possible by using existing technology if deployed in the wells available for injection and production. On 29 November 2017 the General Directorate of Energy Policy approved the decommissioning plan. The termination of the contract was conditional to the completion of the first phase of this plan, which involved the dismantling of a number of facilities which wonât be re-used in the case of a resuming of the production. Columbus Energy Resources, which already announced its intention to apply for a new concession, had six months from 15 December 2017 to initiates the dismantling works. The termination of the concession took effect on 28 March 2018, i.e. the day following the publication of the order in the official bulletin.
The Spanish Government is expected to launch a tender for the re-attribution of the Ayoluengo oil field during the last quarter of 2018 or in early 2019. The La Lora concession covering the field was officially terminated by ministerial order dated 14 March 2018, which paved the way for the launch of the tender which was originally planned for the second or third quarter of 2018. 