General Information
Economic Aspects
The following matters affect the economics of a contract.
The subsoil resources belong to the Colombian Nation. The national and foreign companies may explore and exploit such resources pursuant to an E&P Contract with the ANH.
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The contractor has total freedom to market the production of crude in the international markets.
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The Ministry of Mines and Energy (MME ) has the authority to require contractors to deliver up to 50% of their production to supply the domestic Colombian market if necessary.
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The domestic sale prices are determined according to international market, prices as established in Resolution 18-1709/2003 of the MME.
