start before the Minister of Energy and Water approves and issues a drilling permit. The Council of Ministers approves the extension of the exploration phase. The Council of Ministers approves the development and production plan. The Minister of Energy and Water approves and issues an annual production permit upon which production is conditional to start. The Minister of Energy and Water approves the sale of the State share of petroleum based on the opinion of the LPA.

All companies that have been pre-qualified to participate in the first licensing round possess the legal, technical, financial, and quality, health, safety and environmental criteria as specified in the pre-qualification decree.

The Total Government Take is composed of royalty, profit petroleum and taxes and varies between 53 and 71% in blocks 4 andBest photos of 2011

Thirty really impressive photos of this year.

Note: Click on a photo, to watch a gallery of all these pictures.

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KTM MRW Rally Factory’s Juan Pedrero Garcia rides his motorcycle during the sixth stage of the 2011 Argentina-Chile Dakar Rally between the Chilean cities of Iquique and Arica in Chile, on January 7, 2011. (AP Photo/Natacha Pisarenko)

An Occupy Wall Street protester joins a demonstration at Times Square, New York, Oct. 15, 2011. Thousands of anti-Wall Street protesters rallied in New York’s Times Square on Saturday, buoyed by a global day of demonstrations in support of their month-long campaign against corporate greed. Source: Reuters

Photographer: Rana Dias Category: Wildlife in my Backyard “This greedy wasp never wanted to leave the blackberry hedge in our backyard. He wasn’t interested in