Since the end of 2015, the National Hydrocarbons Agency
("ANH") has been working on a new
regulation for the Allocation of Areas, for the purpose of setting
the rules for the objective selection of contractors and the
allocation of areas. The ANH published a first draft on December
29, 2015 in order to receive comments from the public.
To satisfy the needs of the country and of the industry, and to
move forward the procedure to regulate the allocation of areas, on
September 6 the ANH published a new draft Regulation for the
Allocation of Areas of Exploration and Production of Hydrocarbons
(the "Draft Regulation"), which is the
result of the analysis of the comments made by the
The purpose of the Draft Regulation is to establish the criteria
for allocation of exploration and production agreements, the
different modalities of contractor´s selection process, a new
scoring system to evaluate exploratory programs and provisions
related to the content of E&P agreements. The final Regulation
for the Allocation of Areas will supersede Agreement No. 4 of 2012,
regarding the criteria for the administration and allocation of
The document is open for comments until September 18, 2016
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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