The development stages:Exploration drilling/2015-09.The VIM 3 onshore block covers 90,999ha and is located in Colombia's Valle Inferior del Magdalena basin. It is part of the 2014 Colombian Round, to grant exploration and production licenses, promoted by national hydrocarbons regulator ANH and the mines and energy ministry (Minminas). The contract includes a first phase (36 months) for the acquisition of 200km of 2D seismic data and the drilling of an exploration well. The second phase, also 36 months, includes the acquisition of 100 square kilometers of 3D seismic data and the drilling of two additional exploration wells. The contract includes a six-year exploration term and a 24-year production term, extendable by 10 years.