Bulgaria Upstream Fiscal and Regulatory Report - Attractive Fiscal Regime Likely to Remain Stable

  • ID: 4228964
  • Report
  • Region: Bulgaria
  • 15 pages
  • GlobalData
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Bulgaria Upstream Fiscal and Regulatory Report - Attractive Fiscal Regime Likely to Remain Stable

Summary

“Bulgaria Upstream Fiscal and Regulatory Report - Attractive Fiscal Regime Likely to Remain Stable”, presents the essential information relating to the terms which govern investment into Bulgaria’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 Bulgaria’s upstream oil and gas investment climate.

Scope

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

Reasons to buy

- Understand the complex regulations and contractual requirements applicable to Bulgaria’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 Table of Contents
2. Regime Overview
3. State Take Assessment
4. Key Fiscal Terms
4.1. Royalties, Bonuses, and Fees
4.1.1. Rental Fees
4.1.2. Signature Bonuses
4.1.3. Production Bonuses
4.1.4. Royalties
4.2. Direct Taxation
4.2.1. Corporate Income Tax
4.2.2. Deductions and Depreciation
4.2.3. Withholding Tax
4.3. Indirect Taxation
4.3.1. Value Added Tax
4.3.2. Customs Duties
4.4. EU Emissions Trading Scheme
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 Agency
5.3. Licensing Process
5.3.1. Licensing Rounds
5.4. License Terms
5.4.1. Duration and Relinquishments
5.4.2. Work Obligation
5.5. Hydraulic Fracturing
6. Outlook
7. Appendix
7.1. Contact
7.2. Disclaimer

List of Tables
Table 1: Regime Overview
Table 2: Bulgaria, Exploration Area Rental Fees (BGN/km2)
Table 3: Bulgaria, Production Bonus Rates (US$), 91-III Galata (2001) Concession
Table 4: Bulgaria, Concession Royalty Rates (%), Koynare (2012) and Iskar-West (2014) Concessions
Table 5: Bulgaria, Historical Corporate Tax Rates (%)
Table 6: Bulgaria, Fixed Asset Depreciation Rates (%)

List of Figures
Figure 1: Regime Flow Chart
Figure 2: Bulgaria, Indicative NPV10/boe, IRR, and State Take Comparison, Regional
Figure 3: Bulgaria, Legal Framework
Figure 4: Bulgaria, Institutional Framework
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