Knowledge of Petroleum Agreement with PDVSA and its affiliates.

Considering that the main activity of the firm is the legal support to private oil and gas operators and contractors in Venezuela, our attorneys have a complete and detailed knowledge of the different types of agreements executed by PDVSA and its affiliates with private ( national and international) companies. At this respect we handle on a continuous basis Operating Agreements for the First, Second and Third Round. Also because of the nature of the services provided to our clients, we have the knowledge about the conditions and terms of the different association agreements executed by PDVSA´s affiliates and the process of negotiation in many cases (including Extra heavy oil, and Exploration at Risk and Exploitation under the Shared Profit Scheme). Finally, we also have knowledge on the last association agreement executed by PDVSA under the current government related to the development of Orimulsion.