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Oil – Resolution No. 185/2015

By Amalia Saenz.

Decree No. 185/2015, dated September 29, 2015, established a new incentive by means of the “Program of Incentives to Promote Natural Gas Injection in Companies without Injection” (“the Program”), effective until 2018.

The beneficiaries under this program are companies who own areas whose production rights were acquired from companies already registered in the Programs of Incentives to promote “Surplus Injection of Natural Gas” and “Injection of Natural Gas for Companies with Reduced Injection” (“Incentive Programs”).

The Program acknowledges an “Incentive Price” in the amount of 7.5 USD/MMBTU and becomes part of the Incentive Programs already in force, created for the purpose of motivating producers and promoting the surplus production of natural gas to increase the availability of natural gas in the domestic market.