Arbitration and dispute resolution
If a disagreement has not been resolved within 30 calendar days from date of written notice, the matter will be...
Bonuses
For liquid hydrocarbons:
When the accumulated production from the exploitation area, including the royalty volume, exceeds 5 million barrels of...
Confidentiality
The parties agree that all data and information produced, obtained or developed as a result of the operations and this...
Environmental impact assessment and management plan
An environmental impact assessment is contemplated by this contract in the following definition of 'evaluation/evaluation operations':
All operations and activities undertaken...
Governing law
This contract will be governed in all its parts by Colombian law, and the company waives any attempt at diplomatic...
Infrastructure
The installations, assets, materials and equipment owned by the company and used for exploitation operations will pass free of charge...
Local development agreement
The exploitation work program for each exploitation area will contain the terms and conditions for the development of the community...
Local employment
At all events, the company will comply with the provisions of law which govern the proportion of local and expatriate employees in executive and non-executive posts.
Local procurement
The company will give preference to national bidders for the supply of goods and services, on equality of conditions, being competitive in quality, delivery and price.
Other - operational
The company will avoid wasting natural gas extracted from a field, as provided for in law and regulation on the...
Royalties
The company will make available to the government the percentage of hydrocarbons production established in the law as royalties in...
State agency, national company or ministry executing the document
Agencia Nacional de Hidrocarburos (ANH), a unit of the Ministry of Mines and Energy
State participation
In all cases of extension of the exploitation period in an exploitation area, the company will recognize and pay the...
Surface fees or rent
As of the second phase of the exploration, and for each other phase, the company will pay the government a...
Term
Exploration period is 6 years counting from the effective date, together with any extension granted, during which the company shall...
Training
The company will train Colombian personnel appropriately and diligently, to find personnel that company considers necessary for operations under this contract.
Work and investment commitments
During the exploration period the company will implement a minimum exploration program for each phase as described in annex B...
Country
Colombia
Signature Year
2004
Resource
Hydrocarbons
Type of Contract
Concession Agreement
Open Contracting Identifier
ocds-591adf-1531285830
Disclosure Mode
El Source Book
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