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

  • ID: 4267751
  • Report
  • Region: Suriname
  • 22 pages
  • GlobalData
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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
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1 Table of Contents
2. Regime Overview
3. State Take Assessment
4. Key Fiscal Terms - Production Sharing Agreement
4.1. Royalties, Bonuses and Fees
4.1.1. Royalty
4.1.2. Social Responsibility and Training
4.1.3. Signature Bonus
4.2. Cost Recovery
4.2.1. Limit on Recovery
4.2.2. Recoverable Costs
4.3. Profit Sharing
4.4. Direct Taxation
4.4.1. Petroleum Income Tax
4.4.2. Deductions and Depreciation
4.4.3. Withholding Tax
4.5. Indirect Taxation
4.5.1. Turnover Tax
4.5.2. Customs Duties
4.6. State Participation
4.7. Abandonment Fund
5. Key Fiscal Terms - Concession Agreement
5.1. Royalties, Bonuses and Fees
5.1.1. Royalty
5.2. Direct Taxation
5.2.1. Petroleum Income Tax
5.2.2. Deductions and Depreciation
5.2.3. Withholding Tax
5.3. Indirect Taxation
6. Regulation and Licensing
6.1. Legal Framework
6.1.1. Governing Law
6.1.2. Contract Type
6.1.3. Title to Hydrocarbons
6.2. Institutional Framework
6.2.1. Licensing Authority
6.2.2. Regulatory Agency
6.2.3. National Oil Company
6.3. Licensing Process
6.3.1. Open Door Policy
6.3.2. Licensing Rounds
6.3.3. Prequalification
6.3.4. Bidding
6.4. License Terms
6.4.1. Duration and Relinquishments
6.4.2. Work Obligation
6.5. Local Content
7. Outlook
8. Appendix

List of Tables
Table 1: Regime Overview
Table 2: Suriname, 2014/2015 Licensing Round Staatsolie Profit Share (%), Blocks 58, 59 and 60
Table 3: Suriname, Block 42 and 45 Profit Sharing Framework
Table 4: Suriname, 2003-2004 Bid Round Profit Sharing Framework
Table 5: Suriname, Minimum Work Program for Block 59 and 60, 2015
Table 6: Suriname, Relinquishments for Block 58, 59 and 60, 2015
Table 7: Suriname, Work Obligation Costs for Block 45, 2011

List of Figures
Figure 1: Regime Flow Chart - Production Sharing Agreement
Figure 2: Regime Flow Chart - Concession Agreement
Figure 3: Suriname, Indicative NPV10/boe, IRR and State Take Comparison, Regional
Figure 4: Suriname, Legal Framework
Figure 5: Suriname, Institutional Framework
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