By creating the ANH in 2003, the Colombian oil & gas industry has entered a new era. The Colombian Government has implemented profound changes in its Oil & Gas policy. There is a new institutional structure within which the ANH has acted as resource manager granting licenses for Oil & Gas exploration and production. Associating with the state run oil company, i.e. ECOPETROL, is no longer compulsory; instead the state run company has to compete with other companies and with new investors under equal conditions for territories, if it wants to explore and to produce crude or gas.
In conjunction with that change, the ANH has established a new contractual mechanism or scheme for exploration and production (E&P) companies, significantly different from the previous scheme.