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Hydrocarbons Permissions To Explore Golf San Jorge - Bestow - Full Text Of The Norm

Original Language Title: HIDROCARBUROS PERMISOS DE EXPLORACION GOLFO SAN JORGE - OTORGANSE - Texto completo de la norma

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image inicio sitio infoleg MInisterio de Justicia y Derechos Humanos
Ministry of Energy and Mining.

HIDROCARUBURS.

Decree No. 6.131/1967

Get exploration permits in the "Golfo San Jorge" Zone.

Bs. Ace. 27/9/68.

VISTO the SEEM File No. 51.510/68 (Cde No. 1) in which the proceedings relating to Area No. 1 of the "Golfo San Jorge" Area are carried out in Public Contest No. 4 for the exploration of hydrocarbons in accordance with Law No. 17.319; and

CONSIDERING:

That by Decree No. 9.313/67 the Secretariat of State of Energy and Mining was authorized to conduct contests denying the granting of exploration permits in the "Golfo San Jorge" Zone, within which Area No. 1 is located (signed in the documents of this contest as Fraction "A") that motivates the present:

That the Secretariat of State cited, in compliance with the provisions of the same decree and in use of the powers granted by Law No. 17.319, promoted the call to Contest No. 4, with subjugation to the "General Conditions of the Competitions of Law No. 17.319" promoted the call to Contest No. 4, with subjugation to the "General Conditions of the Competitions of Law No.

That on the 24th of September next last and after the legal requirements for advertising were fulfilled without opposition, the envelopes were opened containing the proposals presented to the Contest No. 4, Zone "Golfo San Jorge", with the result that it gives account of the notebook of foja 51/52 of the main;

That of the reports produced - technical, economic and legal - it turns out that the only offer made in relation to the area No. 1 presented by Sinclair Argentina Oil Company is suitable to national interests, as it is a company that meets the requirements of Article 5 of Law No. 17.319 and has offered conditions consistent with the requirements of the documentation of the contest;

That it is appropriate to award to Sinclair Argentina Oil Company the requested exploitation permit, under the conditions proposed and in accordance with the documentation of the contest:

For this reason, the proposal of the Secretariat of State and Energy and Mining, as recommended by the Minister of Economics and Labour and as set out in articles 48 and 98 (b) of Law No. 17.319.

The President of the Argentine Nation,

Decree:

Article 1- Otorgase permit for exploration of hydrocarbons in accordance with the rules specified in Article 2 of this decree, to Agip Argentina Sociedad Anónima de Hidrocarburos Industrial, Comercial y Financial, Phillips Petroleum Company Argentina and Tennecco Oil Company of Argentina in a joint and joint form, on Area No. 4 of the "Golfo San Jorge" Zone (Concurso No. 4) of a surface approx.

Period
Latitude
Length
1
Lower
equinoccial sicigias
66°37'30'''
2
45°47'30'''
66°37'30'''
3
45°47'30'''
67°21'12''
4
45°42'57'''
67°20'12''
5
45°40'54''
67°16'20'''
6
45°30'54''
67°16'48'''
7
45°32'20'''
67°12'20'''
8
45°30'49''
Lower
equinoccial sicigias

Between points 8 and 1 by the submarine line of equinoccial sicigias.

Art. 2° - The permit is granted subject to the following documentation that integrates it (Art. 2nd Pledge of General Conditions):

(a) The Hydrocarbons Act No. 17.319 and its regulations;

(b) The General Conditions of the Competitions of Law No. 17.319;

(c) The Specific Conditions of the Contest No. 4 (Zona "Golfo San Jorge"):

(d) Clarifications, rules and instructions supplementary to the precited documents:

(e) The proposal submitted by the offenders and the present decree.

Art. 3rd - Note for the periods of the basic period of the permit, the following terms:

1st period: three (3 ) years
2nd period: three (3) years
3rd period: two (2) years.

Art. 4° - The minimum investments committed under section 20 of Act No. 17.319 are as follows:

1st period: Four million three hundred and fifty thousand United States dollars ($4.30,000).
2nd period: Three million hundred thousand United States dollars (US$ 3,100,000).
3rd period: Two million five hundred thousand US dollars (US$ 2.500,000).

Article 5 - Any investment made in national currency or other currencies other than US dollars will be computed in this last currency, based on the sales type quote of the Banco de la Nación Argentina at the close of the date on which each investment is made.

Article 6 - Apply the financial and technical guarantees presented by Sinclair Oil Corporation to ensure compliance with the obligations assumed by the permissionaries.

Art. 7° - The delinde of the area of the permit shall be carried out by the permissionary within the period of one hundred and eighty (180) days from the date of notification of the decree of award, subject to the regulations that the Authority of application of Law 17.319 in this respect.

Art. 8° - During the first ten (10) years of the operation permit or the granting of exploitation as a consequence, the tax rate set out in article 56 inc. (c) of Act No. 17.319 is reduced to forty-seven (47%).

Article 9 - The person shall pay to the State the sum of fifty million pesos national currency (m$ 50,000.000) in accordance with the provisions of Article 18 of the Pledge of Particular Conditions, within thirty (30) days of series notified the present.

Article 10: The importation of equipment, machinery and other elements necessary for the development of the activities arising from the permit granted by this decree shall be subject to the rules that the competent Authority dictates in accordance with Article 68 of Law No. 14.780 and its regulations.

Article 11 - This decree shall be endorsed by the Minister of Economy and Labour and signed by the Secretary of State for Energy and Mining.

Art. 12° - Communicate, publish, give to the National Directorate of the Official Register and archvese.
NGOsANIA. - Adalbert Krieger Vasena. - Luis M. Gotelli.