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Oil – Resolution No. 123/2015

By Amalia Saenz.

Resolution No. 123/2015 of the Committee on Strategic Planning and Coordination of the National Hydrocarbon Investments Plan was published today in the Official Gazette (the “Committee”). Such Resolution approved the “Regulations for Acquisition, Sale and Assignment of Areas, Rights and Interests within the framework of the Program of Incentives to Promote Surplus Injection of Natural Gas and the Program of Incentives to Promote the Injection of Natural Gas for Companies with Reduced Injection” (hereinafter, the “Programs”). 

This Resolution basically provides that the companies registered in the Programs who acquire, sell or assign gas production Areas and/or their rights and/or interests therein will have to give notice thereof to the Committee within ten (10) business days after making the transaction.

The Annex to such Resolution contains the Regulations.