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helloween
18.03.2019 kl 11:34 3128

1. General Structure of Petroleum Ownership and Regulation

1.1 System of Petroleum Ownership

The Colombian state owns all subsurface and natural non-renewable resources, as a general rule. Exploitation of renewable resources existing in the subsurface, however, (including crude oil and natural gas) is open to private initiative. To grant private entities the rights to undertake activities over the subsoil, including the exploration and exploitation of natural resources, the Colombian government, through an independent governmental regulator (National Hydrocarbons Agency,“ANH”), runs competitive tenders where companies can bid for contracts to exploit these resources.

1.2 Regulatory Bodies

ANH is in charge of administering the country’s oil and gas resources, and it therefore issues the regulation required for this purpose, at an upstream level. ANH awards and negotiates E&P contracts, and regulates activities under them.

Furthermore, the Ministry of Mines and Energy (“MME”) is entitled to issue general norms (Resolutions) related to the government’s public policy on the exploration and exploitation of oil and gas resources, and it is also in charge of issuing the applicable regulation regarding midstream and downstream activities.

In environmental matters, the National Authority of Environmental Licensing (“ANLA”) issues regulations and standards to be observed and complied with when performing activities related to the exploration and exploitation of oil and gas resources, and activities comprised in the midstream and downstream segments. ANLA grants environmental licences and permits when required to undertake all of these activities.

Redigert 18.03.2019 kl 11:35

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