The Executive power of Argentina issued Decree N° 929/2013 to encourage investments in the oil and gas regime through new system. The Decree was published in the Official Gazette on July 15, 2013.
According to the Decree eligible entities of the “National Registry of Oil & Gas Investments” who are owners of hydrocarbon exploration permissions and/or owners of hydrocarbon exploitation concessions and present a project of at least USD 1 billion for the first five years of the project would be benefitted from the new procedure.
Entities can export 20% of the production of hydrocarbon without paying export duties from the fifth year of the beginning of the project but they will not be permitted to export 20% of their hydrocarbon production if domestic demand cannot be met by the national hydrocarbon production.
