Law No. 2/12 approving the Law on the Exchange Rate Regime applicable to the Oil Sector.

This Law, consisting of 27 articles divided into seven Chapters, approves the Exchange Rate Regime applicable to the Oil Sector. It aims to establish the exchange rate regime for the settlement of operations involving goods, invisible currents, and capital arising from the activities of prospection, research, evaluation, development and production of crude oil and natural gas. It applies to the National Concessionaire and its national and foreign Associates, for the settlement of foreign exchange operations in the oil sector, and regulates foreign exchange operations and their registration, the forecast exchange budget, supervision and penalties.