On September 4, Decree No. 868/2026 was published, regulating the sanctioning regime of Law No. 26,659 (as amended by Law No. 26,915) and going one step further: without a compliance affidavit, there is no RIGI and no permit under Hydrocarbons Law No. 17,319. The Decree has been in force since September 5.
What did the Law already prohibit?
Exploring, prospecting or transporting hydrocarbons in the Argentine sea without authorization from the competent authority, with particular focus on the area surrounding the Malvinas Islands. Liability does not stop at the oil company: it reaches any company or individual providing financial, logistical, commercial or technical support. Penalties include criminal sanctions, fines and disqualification from operating in Argentina for 5 to 20 years.
What does the Decree change?
- The Foreign Ministry is now the enforcement authority: Administrative sanctions are aligned with Argentina’s diplomatic strategy.
- Mandatory early warning: Every agency of the National Public Administration must report, within 5 business days, any facts that could constitute prohibited conduct.
- Fast-track proceedings: Once summary proceedings are opened, the alleged offender has 10 business days to submit a defense and evidence; the authority has 10 business days to issue a reasoned decision.
- An affidavit as the entry ticket: To join RIGI, the legal representative of the Single Project Vehicle (SPV) must declare that neither the SPV nor anyone holding a direct or indirect interest in it engages, or will engage, in prohibited conduct. The same affidavit is required for permits, concessions, authorizations and licenses under Article 4 of Law No. 17,319.
Why it matters?
The Law has been on the books since 2011, but until now it lacked its own procedure. The Decree gives it operability and places them at the gate of the two regimes that matter most to the sector. The risk shifts to the value chain: lenders, suppliers, carriers and business partners can be caught through a relationship with an unauthorized operator, without ever touching a well. And an inaccurate affidavit exposes both the SPV and its shareholders.
What to do now?
Map counterparties with offshore exposure, strengthen third-party due diligence, review existing contracts, and build the supporting file for the affidavit before applying for RIGI or any permit.
