Gas Notablemente

government policy for the sector.

• Manage and preserve technical information, both currently existing and

acquired in the future.

• Negotiate, as part of the contracts, the terms and conditions of

programs that will be carried out by the contractors in benefi t of communities in

the areas of infl uence of the contracts.

• Manage the State’s share in exploration and exploitation contracts.

• Manage and dispose of the assets that become property of the State

when concessions fi nish or revert.

• Collect royalties and fi nancial resources that belong to the State for the

exploitation of hydrocarbons, and make payments to entities entitled to those

resources.

• Retain the sums corresponding to shares and royalties that belong

to participating entities, which are channeled to the Petroleum Savings and

Stabilization Fund (FAEP), and arrange the corresponding drafts and refunds.

• Undertake necessary steps to ensure an adequate supply of

hydrocarbons, derivates and products, to meet national demand.

• Fix oil production levels in concession that exploiters must sell for

domestic refi ning.

• Fix the price for crude oil in concession sold for domestic refi ning,

processing or for use within de country, as well as for natural gas eff ectively

used as raw material in petrochemical industrial processes, when necessary.

• Carry out all other activities in relation with the management of

hydrocarbons owned by the nation, as well as those established by law or

regulations, in line with the Agency’s mandate.

• Decree 1760 has more detailed information about Ecopetrol’s

restructuring and the organizational structure of the National Hydrocarbons

Agency.

11

GENERAL INFORMATION ABOUT COLOMBIA

Geographic Location

The Republic of Colombia is strategically located in the north-western

...