The Commission on Strategic Planning and Coordination of the National Hydrocarbon NATURAL GAS Investment Plan (hereinafter “Commission”) approved by Resolution No. 123/2015 of July 15, 2015 (1), the “Regulation of Procurement, Sales and Transfers of Land, Rights and Participation under the Stimulus Program for Injecting Surplus of Natural Gas and the Incentive Program for the Injection of Natural Gas for Companies with a Reduced Injection” and its entry into force as of that date.

The Regulation is aimed towards the companies registered in the “Stimulus Program Injection Natural Gas Surplus” or “Stimulus Program for Natural Gas Injection Companies with Reduced Injection” (2) that acquire, sell or dispose areas, rights or participation in the terms of the regulation. These companies must make the corresponding presentation within ten (10) business days of the operation carried out under the regulation under review, before the Administrative Secretary of the Commission located at 186 Balcarce Street, 8th floor, office 840. Its validity is starting on July 15, 2015.

(1) Created under Decree No. 1277, dated July 25, 2012, one of the Commission’s objectives is to promote investments to ensure self-sufficiency in hydrocarbons and an increase in hydrocarbon reserves. On that date the “Regulations of the Board of Hydrocarbon Sovereignty of Argentina” were also approved.

(2) One of the main purposes of this program is the reduction of the gap between production and consumption of natural gas that implements an economic compensation mechanism for companies that, registered with the National Registry of Hydrocarbon Investments, have committed to increasing their total natural gas injection, and will submit, for this purpose, the “Projects for the Increase of Total Natural Gas Injection” to obtain the respective approval by the Commission.