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The business law resource for Latin America
Select specific jurisdictions to filter on. Alternatively select no jurisdictions and select questions below to see all jurisdiction answers for them.
Select specific questions to filter on. Alternatively select no questions and select jurisdictions above to see all question answers for them.
What is the legislation applicable to oil and gas activities in your country? Is it federal or state legislation, or both?
Are oil and gas activities carried out by the state or a state-owned agency or national oil company?
Is oil and gas a regulated business that can only be carried out by companies that are licensed or that receive government concessions to operate?
Identify the regulatory agencies charged with regulating oil and gas activities in your country and describe the role each agency plays in regulating such activities.
Are all hydrocarbons in your country deemed to be originally owned by the state? If so, when does ownership transfer to the extractor or buyer of the hydrocarbons?
How are oil and gas exploration and production rights or concessions granted? Is there more than one method for granting such rights (ie, concession and joint exploration agreements) or co-existing regimes applicable to different exploration or production areas?
Is there a public bidding or similar process for oil and gas exploration and production licences? If so, is it open to foreign companies and investors?
Are there any minimum local content requirements related to international bidding processes?
Are there any minimum capital or technical requirements related to international bidding processes?
Are there any restrictions on foreign participation in such rights or concessions or in companies holding any such rights?
Are there any restrictions on the participation in such rights or concessions by state-owned entities or local national oil companies?
Are companies or consortia that are awarded exploration and production rights given priority to operate and exploit the corresponding oil and gas fields? If so, how is such priority structured and documented?
What rights does the holder of an exploration and production licence or concession have to the hydrocarbons discovered during exploration and subsequently produced?
May a holder of an exploration and production licence or concession transfer such right?
Who has title to assets imported to develop and produce hydrocarbons, including any technology or expertise provided by foreign participants in the local oil and gas sector?
How are federal, state and local governments recompensed for granting companies rights or concessions to conduct oil and gas exploration and production?
May companies or consortia that hold oil and gas exploration and production rights compulsorily acquire property or rights of way to carry out exploration or production activities? Are these compulsory acquisitions governed by special judicial or administrative proceedings?
Are natural gas exploration and production activities regulated separately or subject to the same regulation applicable to oil exploration and production? Are there different royalties or other government charges payable by companies that conduct natural gas exploration and production activities?
Do foreign ownership restrictions apply to the oil and gas sector in your country?
Are there any minimum domestic participation rules or any labour law rules relating to domestic and foreign workers?
Are there any limitations on vertical integration in the oil and gas industry in your country?
Are oil and gas activities carried out through incorporated entities with limited liability or by consortia or other types of unincorporated joint ventures? Are joint venture partners jointly and severally liable for the obligations undertaken in connection with such activities?
May oil and gas reserves be pledged or encumbered to secure the repayment of debt? How?
Can oil and gas rights that are subject to a lien be sold or transferred freely by the secured creditor? What issues, if any, do secured creditors face in enforcing liens on oil and gas rights?
Is oil and gas output freely exportable in your country? Are there any limits or quotas applicable to oil and gas production? Is there access to export pipelines? What licences are required for oil and gas exports? Are duties or tariffs applicable?
Are prices for oil and gas set or fixed by the government?
Are oil and gas exports taxed under the general income tax regime or is there specific hydrocarbons tax legislation?
Do special environmental rules apply to oil and gas exploration and production?
Are environmental regulations in your country consistent with any international standards?
Do special health and safety rules apply to oil and gas exploration and production?
Must companies that participate in the oil and gas industry obtain special environmental or other government permits (other than licences or concessions to carry out oil and gas exploration and production) to operate in your country?
Does the government (including any development banks or agency) provide financing, subsidy or other support to companies undertaking oil and gas exploration or production?
Are there any tax stability or similar regimes available to foreign investors undertaking investment in the oil and gas industry in your country?
Are oil and gas activities generally protected under bilateral investment treaties entered into by your country?
Are there any dispute resolution systems specific to the oil and gas industry? Does state immunity apply in such disputes?
Do anti-corruption rules apply to the oil and gas industry?
Has your jurisdiction adopted any legislation or regulations governing the exploitation of shale gas (fracking)? Are any special licences or environmental permits required for such activities?
Has your jurisdiction adopted any legislation or regulations governing ultra-deep-water exploration or drilling activities? Are any special licences or environmental permits required for such activities?
Have there been any recent material amendments to the laws, rules or regulations governing hydrocarbon exploration and exploitation? Have any new laws, rules or regulations governing hydrocarbons exploration and exploitation been passed in your jurisdiction?
Milbank, Tweed, Hadley & McCloy LLP
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