Terms of Reference
Sliding scale royalties

(Law 756 of 2002)

Additionally, Law 756 of 2002 establishes specific discounts for offshore oil and gas (40%), gas (20%) and heavy crude (25%). The payment of royalties is done monthly, based on the gross value of the production of each field.

Royalties can be paid in cash or in kind at the election of MME, and are applicable to all the fields during the performance of the contract.

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