law no 380
LAW OF 17 MAY 2013
EVO MORALES AYMA
CONSTITUTIONAL PRESIDENT OF THE PLURINATIONAL STATE OF BOLIVIA
For the Plurinational Legislative Assembly, it has sanctioned The following Law:
THE PLURINATIONAL LEGISLATIVE ASSEMBLY,
D E C R E T A:
Article 1. (APPROVAL OF THE OIL SERVICES CONTRACT). In accordance with the
established by Article 362, paragraph II, of the Political Constitution of the State and the authorization provided by Law No. 245 of 1 June 2012, the CONTRACT OF PETROLEUM SERVICES FOR THE EXPLORATION AND EXPLOITATION OF RESERVED AREAS, IN FAVOR OF YPFB, CORRESPONDING TO THE SANANDITA AREA, located in the Department of Tarija, signed on October 1, 2012, between Yacimientos Petrolíferos Fiscales Bolivianos-YPFB and the company EASTERN PETROLEUM & GAS S.A.
Article 2. (DECLARATORY OF MERCHANTABILITY). Once the company EASTERN PETROLEUM
& GAS S.A., holder of the exploration period, makes one or more commercial discoveries, and is approved by YPFB under the Law of Hydrocarbons and current regulations, the holder of the period of exploration shall yield all of its rights concerning the area of exploitation, in favour of a Company of Mixed Economy-S.A.M., to be constituted between YPFB and the company EASTERN PETROLEUM & GAS S.A., in accordance with the model of contract of cession, set out in the Annex? G? of the oil services contract provided for in Article 1 of this Law.
Article 3. (MIXED ECONOMY COMPANY). The Society of Mixed Economy -S.A.M., to be
formed between YPFB and the company EASTERN PETROLEUM & GAS S.A., will be governed entirely by the Code of Commerce, General Law of Labor and other regulations that replace them according to the The legal system in force in the Plurinational State of Bolivia, which must be subject to the application and provisions laid down in Article 5 of Law No 1178 of 20 July 1990, Law on Government Administration and Control, having the obligation to inform the competent public authorities of the destination and result of the management of the resources provided by the State, as well as the presentation of its duly audited financial statements.
Article 4. (STATE CONTRIBUTION).
I. The contribution of State participation in the S.A.M. to be established between YPFB and the company EASTERN
PETROLEUM & GAS S.A., which reaches Bs.4.200,000.00 (FOUR MILLION HUNDRED THOUSAND 00/100 BOLIVIANS), amount subscribed and paid is approved. within the framework of Article 430 of the Code of Commerce
such input comes only from YPFB's own resources.
II. Once the declaratory of trade in the Sanandita area has been approved, YPFB is authorized to carry out the
disbursement of the amount subscribed and paid, corresponding to the state participation.
Remitase to the Executive Body for constitutional purposes.
It is given in the Session Room of the Plurinational Legislative Assembly, on the thirteen days of May of the year
two thousand thirteen.
Fdo. Lilly Gabriela Montano Viana, Betty Asunta Tejada Soruco, Andrés Agustín Villca Daza, Marcelina
Chávez Salazar, Marcelo Elio Chávez, Carlos E. Subirana G.
Therefore, I enact it so that it has and complies with the law of the State Plurinational of Bolivia.
Palace of Government of the city of La Paz, at the seventeenth day of May of the year two thousand thirteen.
FDO. EVO MORALES AYMA, Juan Ramón Quintana Taborga, Luis Alberto Arce Catacora, Ana Teresa
Morales Olivera, Mario Virreira Iporre MINISTER OF MINING AND METALLURGY AND INTERIM HYDROCARBON AND ENERGY, Daniel Santalla Torrez, Amanda Davila Towers.