Colombia-towards a new petroleum contractual regime


“Recently, with the expedition of Decree 1760 of the 26 of June 2003, the Colombian Government split and modified the Empresa Colombiana de Petr贸leos and created the Nacional Agency for Hydrocarbons (ANH). This Decree is a fundamental and structural change in the way Colombia manages its hydrocarbon reserves. It is not simply an administrative reform of this governmental establishment but rather a change in the contracting policy for petroleum.”