As a result of the change of nature according to Decree 714 of 2012 issued by the Ministry of Mines and Energy, the functions of the National Hydrocarbon Agency - ANH, are:
1. Identify and to evaluate the country's hydrocarbon potential.
2. Design, evaluate, and promote investment in hydrocarbon exploration and exploitation activities according to international best practices.
3. Design, promote, negotiate, enter into and manage contracts and agreements for exploration and exploitation of hydrocarbons owned by the nation, with the exception of contracts of association held by Ecopetrol until December 31, 2003, as well as monitoring the fulfillment of all the therein obligations.
4. Assign the areas for exploration and/or exploitation subject to modalities and types of engagement adopted by the National Hydrocarbons Agency - ANH for this purpose.
5. Support the Ministry of Mines and Energy in the formulation of governmental policies in hydrocarbons matters, the elaboration of sectorial plans and fulfillment of the respective objectives.
6. Structure studies and research in geology and geophysics to generate new knowledge in the sedimentary basins of Colombia with a view to plan and optimize the use of hydrocarbon resources and generate exploratory interest and investment.
7. Agree in exploration and exploitation contracts, terms and conditions subject to which the contracting company will carry out programs for the benefit of the communities located in the areas of influence of the corresponding contracts.
8. Support the Ministry of Mines and Energy and other competent authorities in matters related to communities, environment and safety in areas of influence of oil and gas projects.
9. Establish the hydrocarbon prices for royalties' purposes.
10. Manage the participation of the State, in kind or in money, the volumes of hydrocarbons that are appropriate in the contracts and agreements for exploration and exploitation, and other signed contracts or subscribed the Agency, including royalties, in development of which may have such participation through the conclusion of contracts or operations of any nature.
11. Raise, liquidate and transfer the royalties and monetary compensation in favor of the nation by the exploitation of hydrocarbon.
12. Make the corresponding deductions corresponding to participation and royalties to main entities for Funds provided in the Political Constitution and the law and make the drafts and refunds under the terms established therein.
13. Anticipate actions necessary for adequate national demand of hydrocarbon supply.
14. Set the concession oil production volumes that operators should sell for domestic refining.
15. Set the price to which concession crude oil must be sold for domestic refining to processing or use in the country, and natural gas that is effectively used as raw material in petrochemical industrial processes when necessary.
16. Manage and dispose of movable and immovable property passing to the State by completion of contracts and agreements for exploration and exploitation, or reversal of existing concessions, with the exception of contracts of association which Ecopetrol held until December 31, 2003.
17. Track compliance with technical standards relating to the exploration and exploitation of hydrocarbons aimed at the exploitation of resources in a rational and comprehensive manner.
18. Establish export prices of crude oil for fiscal and exchange-rate effects.
19. Direct and coordinate liquidations of the concession contracts surface fees.
20. Check the specifications and destination of imported material in the sub-sector of hydrocarbons in order to take into account those exemptions provided for in the Petroleum Code or Regulations modifying it.
21. Check the specifications and destination of imported material in the sub-sector of hydrocarbons in order to take into account those exemptions provided for in the Petroleum Code or Regulations modifying it.
22. Exercise other activities related to the administration of the nation's hydrocarbon resources.
23. The others assigned and delegated by the Ministry of Mines and Energy, in accordance with current regulations.