​​​​Modelos de contratos​

E&P CONTRACT​​

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TEA CONTRACT​​

Exploratory Period 

With a duration of six (6) years, divided in exploratory phases usually ann​​ual, and with the possibility of an additional exploratory program (further exploratory program) at the end of this period, provided a discovery already exists or there are evaluation or exploitation areas.


Evaluation Program

In order to determine the commercial potential of a discovery, the Contractor shall have an evaluation period of up to two (2) years, depending on the program presented to determine the commerciality of the area.​​


Commercial Area

Once the evaluation is complete, the Contractor must submit ANH a written declaration containing a clear and accurately its unconditional decision to commercially exploit or not the discovery.


Production P​eriod

Up to 24 years, extendable to the economic limit of the Commercial Field, as the Contractor chooses, provided the requirements stipulated in the E&P Contract are complied.​


ANH Contractual Rights

The contract foresees rights in favor of ANH arising from the use of the subsoil, and high prices, once it reaches a cumulative production and in the event of a contract extension.​


Warranty

At the beginning of each exploratory phase it will establish a minimum guarantee of 10% of the budget.​


Operation

ANH requires monitoring of best practices in the industry, including low cost and risk of the contractor.​


Royalties

ANH collects royalties, which are calculated in proportion to the gross daily total production, based on monthly averages for each field.​

Click here to see the  E&P Minutes (PDF)

Model of the Contracted Area, Mandatory Exploration Program, Letter of Credit and Economic Rights (PDF)

November 19 de 2008

​​​​Technical Evaluation Contract

It applies only for free areas.​

Objective

Evaluate and improve the hydrocarbons potential knowledge of a given area and identify prospective areas of interest.​

Evaluation Program

It consists of activities of surface exploration, geology, geophysics, geochemistry, mapping, phonology, Stratigraphic drilling, among others.​

Dur​ation

It can have a maximum of 18 months in continental areas and a maximum of 24 months in off shore areas.​

Terms

A portion of the areas covered by TEA may become E&P contracts when his holder presents/displays exploratory programs accepted by ANH according to their effective regulation.

On a TEA area it is feasible that a third party presents an offer to enter an E&P Contract. In this case, the TEA owner has the option to match or exceed the third party's proposal and thus to be the successful bidder of the E&P Contract.​

Warranty

A guarantee will be set up equivalent to 10% of the work program amount.​

Click here to see the TEA Minutes (PDF)

May​ 2008​​​