HIDROCARBUROS

Decree No. 2271/94

Please note the penalties provided for in Act No. 17.319.

Bs. As., 22/12/94

VISTO Issue No. 750-001710/94 of the Register of the MINISTERY of ECONOMY AND ARTWS AND PUBLIC SERVICES, and Law No. 17.319, and

CONSIDERING:

It is necessary to adequately protect the public domain from hydrocarbon deposits defined in Article 1 of Law 24.145.

That it is an irrenunciable duty of the State to promote the permanent protection of public goods, even more at present, in which it has ceased to participate directly in the development of activities of exploration, exploitation and transport of hydrocarbons.

That the failure to comply with any of the emerging obligations of permits and concessions (which do not constitute a causal effect of expiry) established in Article 87 of Law 17.319 does not constitute anything other than the violation of the obligations established by the Law, its regulations and the provisions contained in the above-mentioned instruments.

That, as it could not be otherwise, it would be the case of infractions of an administrative nature, to the extent that the holders of the aforementioned rights are managers of the public wealth that has been granted to him under the protection of the aforementioned Law.

That the Act, in its article 87, establishes the criminalization of non-compliance with any of the obligations of the Exploitation Concessionaries and Exploration.

That, in that regard, the application of fines was foreseen, the values vary according to the severity and incidence of non-compliance, and the corresponding Authority of Implementation is entitled to that effect.

That the values expressed in national currency pesos corresponds to their transformation and updating to the current legal currency.

That Law 17.319, in its article 102, empowers the dictation of this decree.

Therefore,

THE PRESIDENT OF THE ARGENTINA NATION

RIGHT:

Article 1- Please note the values of the fines provided for in article 87 of Act No. 17.319, which shall range between NOVATE MIL PESOS and SIETE ($2097.-) and NUEVE MIL SETECIENTOS CINCUENTA ($209,750.-) and shall govern from the date of publication of this Decree in the Official Gazette.

Art. 2°- Contact, post, give to the National Directorate of the Official Register and archvese.- MENEM.- Domingo F. Cavallo