Energy and Natural Resources

Resolution No. 12-E/2018

On January 23th 2018, the Resolution No. 12-E/2018 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 this amendment is to extend the benefits of the Program to those adjacent concessions to the exploitation concessions that benefit from the Program, as long as they are operated in a uniform way and in compliance with the terms of this Resolution.
To be considered a unique concession , those have to be to: (a) adjacent; (b) share a common investment plan; (c) be operated jointly, utilizing the same installations; (d), the companies which are part of the consortium owning such concessions, must hold the same amount of participation on each individual concession; (e) and as long as the Program is in force, any assignment of the concessionaries in a concession that is part of the unified concession must be done jointly and simultaneously on all the other concessions and in the same participation percentage.

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