Examples of ANH in a sentence
The Company carries out exploration and production operations through Exploration and Production (E&P) Contracts, Technical Evaluation (TEA) Contracts and Agreements signed with the National Hydrocarbons Agency or ANH, as well as through Partnership Contracts and other types of contracts.
Because of the business nature, the Company has a direct relationship with ANH, an entity which operates under the Ministry of Mines and Energy rules, of which objective is to manage the oil and gas reserves and resources owned by the Colombian Nation.
Ecopetrol purchases the crude oil that the ANH receives from all producers in Colombia at the prices set in accordance with a jointly established formula, which reflects the export sale prices (crude oils and products), adjustment to the API gravity quality, sulfur content, transportation rates from the wellhead to the ports of Coveñas and Tumaco, refining process cost and a commercialization rate.
Since January 2014, ANH receives the royalties in cash for the production of natural gas.
At December 2013, the Company commercialized, on behalf of the ANH, the natural gas received by the latter in kind from the producers.