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Suriname Upstream Fiscal and Regulatory Report - Offshore Open Door Licensing Set to Resume in September

Published: Apr-2017 | Format: PDF | GlobalData | Number of pages: 22 | Code: MRS - 135016

Suriname Upstream Fiscal and Regulatory Report - Offshore Open Door Licensing Set to Resume in September

Summary

“Suriname Upstream Fiscal and Regulatory Report - Offshore Open Door Licensing Set to Resume in September”, presents the essential information relating to the terms which govern investment into Suriname’s upstream oil and gas sector. The report sets out in detail the contractual framework under which firms must operate in the industry, clearly defining factors affecting profitability and quantifying the state’s take from hydrocarbon production. Considering political, economic and industry specific variables, the report also analyses future trends for Suriname’s upstream oil and gas investment climate.

Scope

- Overview of current fiscal terms governing upstream oil and gas operations in Suriname
- Assessment of the current fiscal regime’s state take and attractiveness to investors
- Charts illustrating the regime structure, and legal and institutional frameworks
- Detail on legal framework and governing bodies administering the industry
- Levels of upfront payments and taxation applicable to oil and gas production
- Information on application of fiscal and regulatory terms to specific licenses
- Outlook on future of fiscal and regulatory terms in Suriname

Reasons to buy

- Understand the complex regulations and contractual requirements applicable to Suriname’s upstream oil and gas sector
- Evaluate factors determining profit levels in the industry
- Identify potential regulatory issues facing investors in the country’s upstream sector
- Utilize considered insight on future trends to inform decision-making
1 Table of Contents
1. Table of Contents 1
1.1. List of Tables 3
1.2. List of Figures 3
2. Regime Overview 4
3. State Take Assessment 7
4. Key Fiscal Terms - Production Sharing Agreement 8
4.1. Royalties, Bonuses and Fees 8
4.1.1. Royalty 8
4.1.2. Social Responsibility and Training 8
4.1.3. Signature Bonus 8
4.2. Cost Recovery 8
4.2.1. Limit on Recovery 8
4.2.2. Recoverable Costs 8
4.3. Profit Sharing 9
4.4. Direct Taxation 10
4.4.1. Petroleum Income Tax 10
4.4.2. Deductions and Depreciation 10
4.4.3. Withholding Tax 10
4.5. Indirect Taxation 11
4.5.1. Turnover Tax 11
4.5.2. Customs Duties 11
4.6. State Participation 11
4.7. Abandonment Fund 11
5. Key Fiscal Terms - Concession Agreement 12
5.1. Royalties, Bonuses and Fees 12
5.1.1. Royalty 12
5.2. Direct Taxation 12
5.2.1. Petroleum Income Tax 12
5.2.2. Deductions and Depreciation 12
5.2.3. Withholding Tax 12
5.3. Indirect Taxation 12
6. Regulation and Licensing 13
6.1. Legal Framework 13
6.1.1. Governing Law 13
6.1.2. Contract Type 13
6.1.3. Title to Hydrocarbons 14
6.2. Institutional Framework 15
6.2.1. Licensing Authority 15
6.2.2. Regulatory Agency 15
6.2.3. National Oil Company 15
6.3. Licensing Process 16
6.3.1. Open Door Policy 16
6.3.2. Licensing Rounds 16
6.3.3. Prequalification 16
6.3.4. Bidding 17
6.4. License Terms 17
6.4.1. Duration and Relinquishments 17
6.4.2. Work Obligation 18
6.5. Local Content 19
7. Outlook 20
8. Appendix 21
8.1. Contact Us 21
8.2. Disclaimer 21

                        
            

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