Libya Upstream Fiscal and Regulatory Report: Instability Continues to Affect Operating Environment

  • ID: 4296586
  • Report
  • Region: Libya
  • 22 pages
  • GlobalData
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Libya Upstream Fiscal and Regulatory Report: Instability Continues to Affect Operating Environment

Summary

“Libya Upstream Fiscal and Regulatory Report: Instability Continues to Affect Operating Environment”, presents the essential information relating to the terms which govern investment into Libya’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 Libya’s upstream oil and gas investment climate.

Scope

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

Reasons to buy

- Understand the complex regulations and contractual requirements applicable to Libya’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. Signature Bonus
4.1.2. Production Bonus
4.1.3. Royalties (Paid by NOC)
4.1.4. Rental Exemption
4.2. NOC Initial Allocation and Cost Contribution
4.3. Cost Recovery
4.3.1. Limit on Recovery
4.3.2. Recoverable Costs
4.4. Profit Sharing
4.4.1. EPSA IV Framework
4.4.2. Previous EPSA Models
4.5. Direct Taxation
4.5.1. Corporate Income Tax (Paid out of NOC Share)
4.5.2. Deductions and Depreciation
4.5.3. Withholding Tax
4.6. Indirect Taxation
4.6.1. Value Added Tax
4.6.2. Customs Duties
4.7. Abandonment Fund
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
5.2.3. National Oil Company
5.3. Licensing Process
5.3.1. Licensing Rounds
5.3.2. Bidding
5.4. License Terms
5.4.1. Duration and Relinquishments
5.4.2. Work Obligation
5.4.3. Joint Operating Company
5.5. Local Content
6. Outlook
7. Appendix

List of Tables
Table 1: Regime Overview
Table 2: Libya, Signature Bonuses (US$m), EPSA IV Bid Rounds
Table 3: Libya, Production Bonus Rates (US$mm), Model EPSA IV
Table 4: Libya, Annual Rental Fees (LYD/100 km2) by Zone
Table 5: Libya, Initial NOC Allocation (% of Gross Revenue), EPSA IV Bid Rounds
Table 6: Libya, EPSA IV Profit-Sharing Framework, Base Factor (%), EPSA-IV Model Contract, 2006
Table 7: Libya, EPSA IV Profit-Sharing Framework, A-Factor (%), Block 54 (Round 1 - 2005) and Block 176 (Round 2 - 2005)
Table 8: Libya, EPSA III Profit-Sharing Framework, Base Factor (%)
Table 9: Libya, EPSA III Profit-Sharing Framework, A-Factor (%)
Table 10: Libya, EPSA II Profit-Sharing Framework
Table 11: Libya, EPSA I Profit-Sharing Framework

List of Figures
Figure 1: Regime Flow Chart
Figure 2: Libya, Indicative NPV10/boe, IRR, and State Take Comparison, Internal
Figure 3: Libya, Indicative NPV10/boe, IRR, and State Take Comparison, Regional
Figure 4: Libya, Legal Framework
Figure 5: Libya, Institutional Framework
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