The recently published Guidelines that regulate the procedure for the quantification and
certification of the Nation’s Reserve (, highlight the immediate applicability for Contractors that are about to start a new certification cycle that previously should have rotated the Reserves Certifier; as well as those Contractors that will report Reserves figures for the first time, to whom the new assumptions of approval for the certification of Reserves and its national consolidation are already applicable.

In the same manner, the following modifications are relevant for those Assignees and Contractors that have a Development Plan approved by the National Hydrocarbons Commission:

i) Amendments to the annual calendar and procedure for the quantification and certification of Reserves;

ii) Inclusion of the Approval Process for the selection of Independent Third Parties and their hiring for the Certification of Reserves; and

iii) The congruence between the Reserves estimates and the approved Development Plans as an element of analysis for the annual Evaluation of Reserves by the Commission.

With respect to the Certifiers (Independent Third Parties), new requirements are included for their registration and/or renewal in the Register, as well as their term in the same, reducing it to 1 year.

As a result of the above, new forms (
67) and fees* are binding for Assignees, Contractors and Certifiers.

*To be defined by the Ministry of Finance and Public Credit, and to be published, hereafter by the National Hydrocarbons Commission.

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