Senegal Upstream Fiscal and Regulatory Report - New Petroleum Code Under Development

  • ID: 3942851
  • Report
  • Region: Senegal
  • 20 pages
  • GlobalData
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Senegal Upstream Fiscal and Regulatory Report - New Petroleum Code Under Development

Summary

“Senegal Upstream Fiscal and Regulatory Report - New Petroleum Code Under Development”, presents the essential information relating to the terms which govern investment into Senegal’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 Senegal’s upstream oil and gas investment climate.

Scope

- Overview of current fiscal terms governing upstream oil and gas operations in Senegal
- 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 Senegal

Reasons to buy

- Understand the complex regulations and contractual requirements applicable to Senegal’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
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1.1 List of Tables

1.2 List of Figures

2 Regime Overview

3 State Take Assessment

4 Key Fiscal Terms

4.1 Bonuses and Fees

4.1.1 Signature Bonus

4.1.2 Annual Training Budget

4.1.3 Surface Rentals

4.2 Cost Recovery

4.2.1 Cost Recovery Limit

4.3 Recoverable Costs

4.4 Profit-Sharing

4.4.1 Production-Based Mechanism (Senegal PSAs)

4.4.2 R-Factor Mechanism (AGC PSAs)

4.5 Direct Taxation

4.5.1 Corporate Income Tax

4.5.2 Deductions and Depreciation

4.6 Indirect Taxation

4.6.1 VAT

4.6.2 Customs Duties

4.7 State Participation

4.8 Stability Clauses

5 Regulation and Licensing

5.1 Legal Framework

5.1.1 Governing Law

5.1.2 Contract Type

5.1.3 Title to Hydrocarbons

5.2 Institutional Framework

5.2.1 Licensing Authority

5.2.2 Regulatory Agencies

5.2.3 National Oil Company

5.3 Licensing Process

5.4 License Terms

5.4.1 Duration and Relinquishment

5.4.2 Obligations

5.5 Local Content

6 Outlook

7 Contact Information

1.1 List of Tables

Table 1: Summary

Table 2: Senegal, Annual Contributions (US$), Saint Louis Offshore Profond and Cayar Offshore Profond PSAs, 2012

Table 3: Senegal, Surface Rental Rates (US$/km2), 2016

Table 4: Senegal, Cost Recovery Limit (%), Selected PSAs

Table 5: Senegal, Recoverable Share of G&A Costs Incurred Abroad (%), Saint Louis Offshore Profond

Table 6: Senegal, Profit Split (%), Shallow and Deepwater, Sangomar Offshore Profond PSA, 2004

Table 7: Senegal, Profit Split (%), Saint Louis Offshore Profond and Cayar Offshore Profond PSAs, 2012

Table 8: Senegal, Profit Split (%), Crude Oil and Natural Gas, Louga PSA, 2013

Table 9: Senegal, Profit Split (%), Selected PSAs, 2008-2012

Table 10: Senegal, Profit Split (%), AGC Shallow (2011) and AGC Central (2014) PSAs

Table 11: Senegal, Petrosen Equity Interest (%), Standard and Back-in Right, Selected PSAs

Table 12: Senegal, Minimum Exploration Obligations (US$), Saint Louis Offshore Profond and Cayar Offshore Profond PSAs, 2012

Table 13: Senegal, Exploration Minimum Investment Spend (US$), Selected PSAs

1.2 List of Figures

Figure 1: Regime Flow Chart

Figure 2: Senegal, Indicative NPV10/boe, IRR and State Take Comparison - Internal, 2016

Figure 3: Senegal, Indicative NPV10/boe, IRR and State Take Comparison - Regional, 2016

Figure 4: Senegal, Legal Framework

Figure 5: Senegal, Institutional Framework
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