The National Hydrocarbons Agency ("ANH") published the Agreement No. 8 of October 29, 2020, modifying the terms of reference of the CEPI Selection Process ("Agreement No. 8"). 

Agreement No. 8 states that it is necessary to offer different CEPI award opportunities in order to ensure that the National Government will obtain the required minimum information to define the public policy in relation to the implementation of the Fracking. 

These opportunities, which will originate with the launch of the second CEPI round, require the inclusion of an additional requirement with respect to the content of the offers, consisting of a minimum investment associated with the implementation of the Research and Operational Activities Program, in order to ensure that the offers submitted commit the resources that should reasonably be dedicated to this type of project. 

Therefore, the sections of the CEPI terms of reference that are modified indicate the following: 

• Numeral 4.1.6: Within the minimum contents of a proposal, the investment to be executed in the development of the Program of Research and Operational Activities of the research project must be included. This investment cannot be less than thirty million American dollars (USD 30,000,000), under penalty of rejection of the offer; 
• Number 5.4: the final order of eligibility will contain the list of the proponents that presented an offer and will indicate the number of projects to be selected in the second round, if applicable; 
• Number 5.5: The ANH is authorized to carry out a second round of reception of proposals in case no proposals are presented in the first round, or if the proposals received are not valid or if less than four CEPI are awarded. In addition, those who are not awarded a CEPI in the first round will be able to submit proposals for the second round. 

For more information about Agreement No. 8, please visit the following link: https://www.anh.gov.co/Asignacion-de-areas/Paginas/CEPI.aspx