New Regulation of Hydrocarbon Operations in Ecuador promotes the increase in oil production
This Ministry of Energy and Non-Renewable Natural Resources release was published using machine translation.
A new Regulation of Hydrocarbon Operations came into effect on July 6, 2021, with the aim of expanding and making viable the application of new practices and technologies to optimize processes and contribute to the goal of increasing oil production in the country.
The regulation was approved by the Board of the Agency for the Regulation and Control of Energy and Non-Renewable Natural Resources (ARCERNNR) and is made up of: 11 chapters, 191 articles, 2 general provisions, 2 transitory and 2 final provisions. This instrument reformulates and reaches out to around 40 articles of the previous regulation that was in force since 2018. This was repealed by Ministerial Agreement No. 10.
The Minister of Energy and Non-Renewable Natural Resources, Juan Carlos Bermeo Calderón, stressed that “with these regulations, procedures are updated, the application of which contributes to the increase in oil production, in addition to reducing times and simplifying processes for administrative procedures, according to what is provided in literal (a) of the new Hydrocarbon Policy, issued with Executive Decree 95, signed by President Guillermo Lasso ”.
The Regulation also updates or eliminates expired regulations regarding the delivery of information, processing and registration. It establishes deadlines, delivery times and attention, which will allow to speed up the analysis and processing of the information of the hydrocarbon chain, so that it is available for decision-making in future tenders and awards.
It also includes information management criteria for users who must have a daily, continuous and exact record of their hydrocarbon activities in each application area .
This State Portfolio works according to the policies of the Government of the Meeting to improve the production of crude oil, its derivatives and diversify the markets for Ecuadorian hydrocarbon products, within a framework of dialogue, transparency and efficiency.
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