The norm, in detail
Mature areas: 6% royalties for 2 years to revive conventional output
Decreto 13/26 (Official Gazette 6458)
in executionPROVINCIAL
Energy and natural resources
Decreto 13/26 ends the Medianera and Rinconada concessions, puts them out to tender and cuts royalties from 15% to 6% during the continuity plan.
What changed and who it applies to
What changed
It terminates the concessions of the 'Medianera' and 'Rinconada - Puesto Morales' areas and approves National and International Public Tender 02/25 to reassign them (together with Las Bases, forfeited by President Petroleum). The incentive: during the Operational Continuity Plan (2 years) the royalty drops from 15% to 6% (textual mechanics: '15% + X, where X = -9%'), and the remaining 8-year period carries royalties tied to the area's potential; the surface fee can be offset against remediation of pre-existing environmental liabilities. Declared objective: operational and employment continuity over revenue. verif Jan 8, 2026 ↗
In force
Awarded by Decreto 548/26 (Official Gazette 6494, 28-May-2026): 'Medianera' and 'Rinconada-Puesto Morales' went to Geopetrol Drilling S.A. for 10 years from contract signing, with approved plans totalling USD 6.17 M (Medianera USD 0.605 M continuity + USD 1.625 M development; Rinconada-PM USD 1.4 M + USD 2.54 M). 'Las Bases' was declared VACANT (no bidders at the 27-Feb-26 opening) and remains under provincial administration. verif May 28, 2026 ↗
Are you in or out?
Conventional-oil SMEs (Geopetrol, Petrolsur and the Titanium-Emepa joint venture competed; the latter did not qualify) and oil employment in Catriel and the province's northwest, hit by the decline of mature fields (municipal labor emergency Res. 35/2025). verif May 28, 2026 ↗
The norm
Decreto 13/26 (DECTO-2026-13-E-GDERNE-RNE), Viedma, Jan 8, 2026; published in Boletín Oficial 6458 of Jan 15, 2026. File 202.314-SEyA-2.2025. verif Jan 15, 2026 ↗
Our reading
The realistic flip side of the corridor: while shale and midstream grow, the old conventional is sustained by lowering the entry price (6% royalty, surface fee offsettable against remediation). It is continuity policy, not rent policy - the decree's own recitals say so: 'sustaining the viability of the associated economies' matters more than the bonus. For small investors it is an entry door into upstream with cheap producing assets; the risk is inheriting environmental liabilities that the fee offset only partially covers. thesis
Where it lands, province by province1
The other rules on this subject38
The State reorders the trunk gas pipelines and forces firm transportation contracts to be redrawnRes. SE 66/2026 (Official Gazette, Mar 13, 2026) + Res. ENARGAS 409/2026in execution
Hydrocarbons: the pre-export local offer fallsSE Res. 166/2026 (Official Gazette, Jul 22, 2026)in force
The State puts 16 high-voltage works out to tender, and six of them run through four of the five provincesRes. SE 202/2026 (Official Gazette, Aug 12, 2026), the Plan's first workin execution
The Comahue returns to private hands: 4 dams awardedRes. 2124/2025, Ministry of Economy (Official Gazette Dec 30, 2025)in force
End of segmentation: energy subsidies are targeted at those who need themDecreto 943/2025 (Official Gazette, Jan 2, 2026)in force
Ignacio Aredez· Chief analyst
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