​Vice-presidency of Operations, Royalties and Parti​cipation

The functions of the Vice-presidency of Operations, Royalties and Participation of the National Hydrocarbon Agency are the following:

1. Design the Operations Control, Royalties and Participation Processes.

2. Design and implement the regulation and management of information of hydrocarbon reserves.

3. Collect, liquidate and transfer the royalties and monetary compensation in favor of the nation for the exploitation of hydrocarbon.

4. Have the necessary activities for trading the production volumes of hydrocarbons, corresponding to the State, within all types of contracts.

5. Establish the necessary actions to set the concession oil production volumes that operators should sell for domestic refining.

6. Propose the President the hydrocarbons price calculation bases to pay royalties, economic rights and interests in the production.

7. Propose the Presidency the price to which concession crude oil must be sold for domestic refining and natural gas effectively used as raw material in petrochemical industrial processes when necessary.

8. Set guidelines to propose to the Ministry of Mines and Energy or the competent authority, updating and development of technical regulations related to the control of hydrocarbons production, which must comply with the operators of the hydrocarbon in the country areas.​