The license agreement for the extraction of hydrocarbons stipulates that the contractor will provide and be responsible for all technical and financial resources required for the execution of the operations and will have the right of ownership over the hydrocarbons extracted in the contractual area. The Contractor will pay a royalty based on audited hydrocarbons.

The State is a partner of the contractor. The contributions for the State are:
1. The contractual fee for the exploration phase
2. Consideration based on gross income before deducting costs
3. Adjustment mechanism based on production volume and prices

There are two possible extensions in the contract term subject to the area being in regular commercial production, the first extension of 10 years and a second extension for an additional period of 5 years.

Prospective Resources: The volume of hydrocarbons estimated at a certain date, of accumulations that are not yet discovered but have been inferred and are estimated to be potentially recoverable, through the application of future development projects.

They have both an opportunity for discovery and development, and are further subdivided according to the level of certainty associated with recovery estimates:
- P90: Low quantity estimates, that with 90% probability will be equal to or greater than that level.
- P50: Best quantity estimates, that with 50% probability will be equal to or greater to that level.
- P10: High quantity estimates, that with 10% probability will be equal to or greater than that level.