July 16th, 2015.
Dear clients and friends,
Round One tender process began on December 11th, 2014, which is the procedure through which the National Oil and Gas Commission (Comisión Nacional de Hidrocarburos) offers to the private sector 169 areas for oil and gas extraction and exploration projects in deep waters, shallow waters and for non-conventional resources (shale gas), through a number of tenders. In this regard, within the Round One tender process, the CNH has issued 3 invitations to bid, two under the shared production structure and one through the license contracting format, for which we would like to provide an overview on the environmental obligations deriving thereof.