Significant Positive Policy Shift in Oil and Gas Contracts in Colombia
Article from: OGEL 3 (2004), in Roundup of Articles
Introduction
In view of the imminent scarcity of crude in Colombia and the implication that the country might become an oil importer, President Alvaro Uribe's Government has taken important steps to make the industry more attractive in the eyes of foreign investors and, at the same time, has introduced tools to facilitate increased exploration in order to avoid the impact that importing crude would have on public finances. To improve Colombia's oil and gas business efficiency and its competitiveness in the international market, under Decree 1760 of 26 June 2003, the Government ...