Australia Upstream Fiscal and Regulatory Report - PRRT Review Set to Report At The End of April

  • ID: 4228998
  • Report
  • Region: Australia
  • 24 pages
  • GlobalData
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Australia Upstream Fiscal and Regulatory Report - PRRT Review Set to Report At The End of April

Summary

“Australia Upstream Fiscal and Regulatory Report - PRRT Review Set to Report At The End of April”, presents the essential information relating to the terms which govern investment into Australia’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 Australia’s upstream oil and gas investment climate.

Scope

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

Reasons to buy

- Understand the complex regulations and contractual requirements applicable to Australia’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. Royalties (Onshore, Coastal Waters and North West Shelf Only)
4.1.2. Annual Rental Fees
4.2. Crude Oil Excise (Onshore, Coastal Waters, and North West Shelf Only)
4.3. Petroleum Resource Rent Tax
4.3.1. Rate and Application
4.3.2. Gas Transfer Price Methodology
4.3.3. Deductible Expenditure
4.4. Resource Rent Royalty (Barrow Island)
4.5. Direct Taxation
4.5.1. Company Tax
4.5.2. Deductions and Depreciation
4.5.3. Withholding Tax
4.6. Indirect Taxation
4.6.1. Goods and Services Tax
4.6.2. Customs Duties
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. Offshore Areas
5.3.2. Onshore Areas and Coastal Waters
5.3.3. Native Title
5.3.4. Application Fees
5.4. License Terms
5.4.1. Duration and Relinquishments
5.4.2. Work Obligation
5.5. Foreign Investment Screening
5.6. Restrictions on Hydraulic Fracturing
6. Outlook
7. Appendix
7.1. Contact
7.2. Disclaimer

List of Tables
Table 1: Regime Overview
Table 2: Australia, Onshore, Coastal Waters and North West Shelf, Royalty Rates (%)
Table 3: Australia, Annual Rental Fees (AUD)
Table 4: Australia - Onshore, Coastal Waters and North West Shelf, Crude Oil Excise Rates (%)
Table 5: Australia, Petroleum Resource Rent Tax Expenditure Classes and Uplift Rates
Table 6: Australia, Announced Tax Reductions (%), 2017
Table 7: Australia, Statutory Effective Life Caps - Petroleum Sector (years)
Table 8: Australia, Withholding Tax Rates (%)
Table 9: Australia, Governing Law by State/Territory
Table 10: Australia, State/Territory Licensing Authorities
Table 11: Australia - Onshore and Coastal Waters, Maximum Initial Term Duration for Petroleum Licenses (years)

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