Energy Senior Counsel Inés Elvira Vesga was interviewed for an article published in the newspaper Portafolio
in which she offered her comments on the new legal project that seeks to increase the royalties paid by companies that want to conduct fracking projects in Colombia. She explained that Law 1530 currently grants a discount on the payment of royalties from the production of unconventional deposits and added that reducing or eliminating this discount could discourage investment in these projects in the country.
"The high investment costs in these projects and the country's own difficulties in lack of infrastructure make it necessary to attract companies to develop this type of project. There are more attractive jurisdictions that we must compete with," she said.
READ: Fracking Companies would Pay 100% of the Royalties