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Oct 31, 2014

Amendment of Hydrocarbons Law

The Argentine Congress approved an amendment to the Federal Hydrocarbons Law (Ley 27.007) . It improves investment conditions for the Argentine hydrocarbon industry by: (i) extending exploration and production terms, (ii) creating a special type of concession for unconventional hydrocarbon projects with longer terms and lower royalties, (iii) capping royalties and bonus fees, (iv) reducing Government-take in certain types of projects, and (v) reinstating the right to export a percentage of oil and gas production while maintaining abroad the export proceeds. The benefits introduced by the Amendment are available to both new and existing investors.

Type: Entry and establishment (Ownership and control, Approval and admission), Treatment and operation (Other)

Industry: Primary (Mining and quarrying)