Energy and Natural Resources

Resolution No. 1-E/2018

On January 4rd 2018, the Resolution No. 1-E/2018 of the Secretariat of Hydrocarbon Resources, was published in the Official Gazette, which modifies the annex of the Resolution 46-E/2017 that created the bases and conditions of the Incentive Program for Investments in the Development of Natural Gas Production of Unconventional Reserves (the “Program”). The purpose of the Program is to accelerate the transition from a pilot stage to a development stage of those concessions granted to exploit hydrocarbons originated in unconventional reserves, as well as to increase the production of those that are in development stage.

The resolution, among other matters: (i) approves a form that productive companies shall submit to the Ministry of Energy and Mining web page before the 20th day of each month, informing the amount of natural gas injected during the previous month; (ii) establishes that productive companies shall rectify the forms through the web page; and (iii) sets the methodology and values and prices to be taken when submitting forms.

For further information on this topic please contact Juan Martín Allende and Marcos Patrón Costas