Through Agreement 5 of 2022, the National Hydrocarbons Agency ("ANH") adopted criteria for the Administration of Contracts for Hydrocarbon Exploration and Production activities (including Technical Evaluation Agreements, Hydrocarbon Exploration and Exploitation Contracts, Hydrocarbon Exploration and Production Contracts, Hydrocarbon Exploitation Agreements and Hydrocarbon Exploration and Exploitation Agreements.
In this way, guidelines are established that will cover the management, execution, termination, liquidation, and surveillance of the contracts entered with the ANH for the exploration and production of hydrocarbons.
Among the featured topics, we highlight:
- In case of assignments, the capabilities, and requirements of the Assignee of will be evaluated according to the criteria and conditions indicated in the Terms of Reference or Rules of the last Competitive Processor carried out by the ANH.
- The Contracts entered with the ANH shall terminate due to the occurrence of the causes stipulated therein, which results in the extinction of the rights granted. The obligations and their enforceability remain in force until the final settlement of the Contracts. The foregoing, without prejudice to the extension of the effects of labor obligations and those matters related to non-contractual civil liability pursuant to the law.
- Contracts modifications must be governed and adjusted to the guidelines and criteria adopted by the ANH Board of Directors. Contractors may request to be abide by those terms.
- The term for the application of the benefit provided for in Agreement 010 of 2021 related to the possibility to drill A2 or A3 wells in any area of Colombian territory included in the land map to meet the exploratory obligations set as activities or investments, prior notification to the ANH is extended.
To review Accord 5, please access the following link