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Oil and Gas Alert – April 2021

ALERT – OIL AND GAS

Adoption of the Mandatory Use of the Non-Contractual Civil Liability Insurance Policy Module applicable to agents that carry out Hydrocarbon Activities

Resolution N° 090-2021-OS/CD (“Resolution”), published on April 27, 2021 in the Official Gazette El Peruano, adopted the mandatory use of the Non-Contractual Civil Liability Insurance Policy Module (“Module”), by agents performing Hydrocarbon Activities; such as exploration, exploitation, processing, refining, storage, transportation, distribution and commercialization.

As evidenced in the different regulations of the Single Ordered Text of Law No. 26221, Organic Law of Hydrocarbons, adopted by Supreme Decree N° 042-2005-EM, the agents that carry out Hydrocarbon Activities must have an insurance policy that covers non-contractual civil liability and guarantees compensation for possible damages caused in the development of their activities.

Within the framework of the National Policy for the Modernization of Public Management, Resolution N° 040-2015-OS/CD created the OSINERGMIN Virtual Platform, to which the aforementioned Module was incorporated, in order to facilitate the verification of compliance with the obligation detailed in the preceding paragraph and to optimize the audit by OSINERGMIN.

With regard to the opportunity to register policies in the Module, the Resolution provided that: 

– Agents that carry out Hydrocarbon Activities and that have a current registration in the Hydrocarbon Registry (“RHO”) shall register in the Module the information related to the insurance policies contracted for each facility, no later than October 1, 2021.

– Agents that start Hydrocarbon Activities from April 28, 2021 shall register the information related to the insurance policies contracted for each facility, no later than May 28, 2021.

When the development of Hydrocarbon Activities requires registration in the RHO, the agent developing the activity shall record the information in the Module within 30 calendar days following the notification of the issuance of the Hydrocarbon Registration Sheet. When registration is not required, the registration of the information shall take place within 30 calendar days after the issuance of the authorization to develop the activity.

The agents must keep the existing information in the Module updated.

The registration of the requested information shall be considered as an affidavit and shall be the appropriate means to prove compliance with the obligation to have a non-contractual civil liability insurance policy. Consequently, the lack of registration shall be evidence of non-compliance with the obligation and shall constitute grounds for the imposition of a security measure of suspension of the registration in the RHO, when it is required for the development of the Hydrocarbon Activity; or, for the imposition of administrative measures and/or the initiation of an administrative sanctioning procedure when the registration in the RHO is not required.

Any questions on this matter may be answered by Doctors Jorge Pérez-Taiman (jpereztaiman@estudiorodrigo.com), Carolina Noriega (cnoriega@estudiorodrigo.com), Piero Scarafone (pscarafone@estudiorodrigo.com) and/or Talía Hormaeche (thormaeche@estudiorodrigo.com).