Mendoza Adapts Its Oil Law to Attract Investments and Accelerate the Development of Vaca Muerta
7 Articles
7 Articles
The reform incorporates the regime of non-conventional concessions, while YPF plans to unify areas and apply for membership in RIGI in 2027. It also expands incentives to recover production in mature deposits.
This reform incorporates flexible royalty mechanisms, incentives to reactivate wells and a specific framework for non-conventional exploitation, as well as greater environmental requirements.The entry Mendoza approved a new Hydrocarbon Law to attract investments was first published in #BorderJournalism.
Source: El Sol – https://www.elsol.com.ar/mendoza/mendoza-aprobo-la-new-law-to-attract-investments-a-vaca-dead/ The Mendoza Senate definitively sanctioned the updating of the regulatory framework of hydrocarbons promoted by the provincial government. The initiative won 31 votes in favour and two against, corresponding to the blocks of Homeland Force, and was now forwarded to the executive branch for promulgation. The reform replaces a regulation…
The Senate passed the new Hydrocarbons Act, which updates the regime in force since 2006. The reform incorporates flexible royalties, incentives to reactivate wells and a specific framework for non-conventional ones, as well as greater environmental requirements.
The Mendoza Legislature sanctioned the rule that replaces the framework in force since 2006. It establishes a reference gift of 15%, allows it to be lowered below 5% for recovery and reactivation projects, and incorporates for the first time the unconventional development in Malargüe.
The new law incorporates the concessions for the non-conventional exploitation of hydrocarbons, a figure that was not contemplated in the regulations of 2006. The reform strengthens the environmental responsibilities of the companies from exploration and exploitation to the closing and definitive abandonment of the deposits.
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