The National Hydrocarbons Agency published for comments the Draft Agreement that sets the transfer of exploratory activities or investments in Contracts or Agreements. Interested parties will have until Thursday, January 9, 2020 to submit them.

Draft agreement about transfer of investment available for comments

In accordance with article 3 of Decree 714 of 2012, the National Hydrocarbons Agency (ANH) must promote investment in exploration and production activities of the country's hydrocarbon resources.

Therefore, in order to promote the exploratory investment in Colombia and seek out new reserves that can be exploited in the short term, it is necessary to establish new criteria and rules to overcome the transfer of investment or activities between Contracts or Agreements.

Therefore, in compliance with the article 8 of the Colombian Administrative Procedure Code, authorities must maintain available to all interested parties the complete and updated information, among others, of the specific regulatory projects and the information used to build them, in order to receive opinions, suggestions or alternative proposals, the ANH published the Draft Agreement “By means of which the rules for the Transfer of Exploration Activities or Investments between Contracts and Agreements executed with  ANH are established”.

The Draft Agreement includes 18 articles and one annex, through which it is intended to establish the rules and requirements to carry out transfers of exploratory activities or investments related to Technical Evaluation Agreements, Exploration and Exploitation Contracts, Exploration and Production Contracts, Exploration and Exploitation Agreements, in or to other Contracts or Agreements that have been signed with the ANH

The draft agreement can be found in the following link:
All observations, comments and proposals must be sent no later than Thursday, January 9, 2020.

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