New Hydrocarbons Law in Argentina
Article from: OGEL 6 (2015), in Energy, Institutional Reforms and Development in Latin America
On October 31, 2014, Law 27.007 made a significant amendment to Law 17,319 (the "Hydrocarbons Law"). Law 27.007 is the result of an agreement between the National Government and the Federal Organization of Oil Producing States ("OFEPHI"), and represents the most extensive reform in the Hydrocarbons Law since its enactment in 1967. Law 27.007 (the "Reform") seeks to adapt the Hydrocarbons Law to the new economic and geological reality of hydrocarbon deposits in Argentina. While the shutter of the reform was the need to develop unconventional hydrocarbons, the Reform also promotes ...