Extension of the Incentive Program for the Production of Non-Conventional Natural Gas to the Concessions of the Austral Basin
On 17 November 2017, Decree No. 447/2017 was published in the Official Gazette extending the "Incentive Program for the Production of Non-Conventional Natural Gas" created by Resolution No. 46/2017 (Program) to non-conventional natural gas exploitation concessions located in the Austral Basin (see details of the Program here).
Basically, the benefits of the Program –which were already applicable to the concessions of the Neuquina Basin (which covers the provinces of Neuquén, Mendoza, Río Negro and La Pampa)– will also be applicable to the concessions of the Austral Basin (which covers the provinces of Santa Cruz and Tierra del Fuego).
The companies that decide to participate in the Program shall submit all the information about their concessions and the characteristics of their wells with the Secretariat of Hydrocarbon Resources, which will determine if they are eligible for the Program.