Presidential Decree No. 4001 validating the Regulation on Committee on the management of contractual territories.

This Presidential Decree establishes the competence of Committee on the management of contractual territories. The Committee shall be the authorized administrative institution in the field of the management of oil extraction. The Committee shall carry out the following functions: (a) control over oil-and gas production on the territory under contract; (b) examination of projected activity; (c) validation of exploration of oil and natural gas; and (d) validation of environmental protection arrangements.