The National Hydrocarbons Agency (“ANH") published on June 27, 2019 the Addendum No. 3, which amended the schedule of the Permanent Process for Allocation of Areas ("PPAA").
With the purposes of expediting the award of areas and the signing contracts that were not subject of counteroffers, and taking into consideration that in the first cycle of the PPAA, 10 of the proposals received no counterproposals, the ANH modifies the schedule and brings forward the date of allocation of areas and execution of contracts in relation to those areas in respect of which no counteroffers were not submitted.
Thus, the timeline the PPAA, only with regard to the stage of areas allocation, awarding and execution of contracts has been amended as follows:
| Ciclo 1 | Ciclo 2 | Ciclo 3 | |
| Allocation of areas subject to COUNTEROFFERS | July 16, 2019 | September 26, 2019 | December 9, 2019 |
| Signing Contracts | Since July 17, 2019 | Since September 27, 2019 | Since December 10, 2019 |
| Allocation of areas in respect to which no Counteroffers were submitted | July 3, 2019 | 24/09/19 | December 5, 2019 |
| Signing Contracts | Since July 4, 2019 | Desde el 25/09/19 | Since december 6, 2019 |
For more information on the new timeframe and major modifications to the terms of reference, please do not hesitate to contact us.