CNH held yesterday its 19th extraordinary session of Y2016,
whereby it was approved, among other matters, the Guidelines
establishing the requirements and procedure for alliances and
associations in connection with contracts for the exploration and
extraction of hydrocarbons (Lineamientos por los que se establecen
los requisitos y el procedimiento para celebrar alianzas o
asociaciones respecto de los contratos para la exploración y
extracción de hidrocarburos) (the "Guidelines"),
the report as follows:
In terms of the Hydrocarbons Law (the "LH"), the
assignments of the corporate and/or operative control in Contracts
for the Exploration and/or Extraction of Hydrocarbons (the
"E&E Contracts") shall be approved by CNH; the
purpose of the Guidelines is to establish the requirements and the
procedure through which CNH will resolve the requests for the
authorization of assignments submitted by Contractors. The
following are some of the requirements that shall be complied
