Colombia Upstream Fiscal and Regulatory Report - New Licensing Expected As New Regulations Are Implemented

  • ID: 4334433
  • Report
  • Region: Colombia
  • 35 pages
  • GlobalData
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Colombia Upstream Fiscal and Regulatory Report - New Licensing Expected As New Regulations Are Implemented

Summary

"Colombia Upstream Fiscal and Regulatory Report - New Licensing Expected As New Regulations Are Implemented", presents the essential information relating to the terms which govern investment into Colombia’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 Colombia’s upstream oil and gas investment climate.

Scope
  • Overview of current fiscal terms governing upstream oil and gas operations in Colombia
  • 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 Colombia
Reasons to Buy
  • Understand the complex regulations and contractual requirements applicable to Colombia’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
1.1. List of Tables
1.2. List of Figures
2. Regime Overview
3. State Take Assessment
4. Key Fiscal Terms
4.1. Royalties, Bonuses and Fees
4.1.1. Subsoil Use Fees
4.1.2. Technology Transfer Contribution
4.1.3. Royalties
4.1.4. Production Participation
4.1.5. Additional Production Participation
4.1.6. High Price Participation
4.1.7. Community Benefit Program Contribution
4.2. Direct Taxation
4.2.1. Corporate Income Tax
4.2.2. FTZ Reduction
4.2.3. CREE (until 2017)
4.2.4. CREE Surtax (until 2017)
4.2.5. Deductions and Depreciation
4.2.6. Withholding Tax
4.3. Indirect Taxation
4.3.1. VAT
4.4. State Participation (under Association Contracts)
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. Prequalification
5.3.3. Bidding
5.4. License Terms
5.4.1. Duration and Relinquishments
5.4.2. Work Obligation
5.4.3. Relinquishment
6. Outlook
7. Appendix
7.1. Contact Us
7.2. Disclaimer

1.1 List of Tables
Table 1: Regime Overview
Table 2: Colombia, Subsoil Use Fees (US$/ha), Technical Evaluation Agreements, 2017
Table 3: Colombia, Subsoil Use Fees (US$/ha), Conventional Resources, Exploration Contracts, 2017
Table 4: Colombia, Conventional Deposits, Subsoil Use Fees (US$/ha), Exploration Phase, 2016
Table 5: Colombia, Unconventional Deposits, Subsoil Use Fees (US$/ha), Exploration Phase, 2016
Table 6: Colombia, Standard Sliding Scale Royalty Rates (Light Crude)
Table 7: Colombia, Discounts to Light Crude Royalty Rate
Table 8: Colombia, Production Participation Adjustment Factor, 2017
Table 9: Colombia, Production Participation Rates (%), 2014 Round
Table 10: Colombia, Threshold Benchmark Prices, Liquids, High-Price Participation, 2017
Table 11: Colombia, Threshold Benchmark Prices, Gas, High-Price Participation, 2017
Table 12: Colombia, High Price Participation Rate (%), 2017
Table 13: Colombia, Corporate Income Tax Rate, Foreign Entities, 2015-2016
Table 14: Colombia, Corporate Income Tax Rate, All Entities, 1995-2012
Table 15: Colombia, CREE Surtax, 2015-2018
Table 16: Colombia, Participation Split - 2nd Generation (1990-1994)
Table 17: Colombia, Participation Split - 3rd Generation (1994-1999)
Table 18: Colombia, Participation Split - 3rd Generation (1994-1999)
Table 19: Colombia, Financial Capacity Prequalification Requirements by Area, 2017
Table 20: Colombia, Indebtedness Ratio Calculation, Financial Economic Capacity Score, 2017
Table 21: Colombia, Debt Service Coverage Ratio Calculation, Financial Economic Capacity Score, 2017
Table 22: Colombia, Score Value (USD per point), 2017
Table 23: Colombia, Required Investment Ratings for Financial Capacity Exemption, 2017
Table 24: Colombia, Evaluation Criteria, 2014 Round
Table 25: Colombia, Minimum Exploration Work Program Requirements, Bid Round 2014
Table 26: Colombia, Exploration Phase Financial Guarantee Reduction, Exploration Phases Three Years or Greater, 2015
Table 27: Colombia, Exploration Phase Financial Guarantee Reduction, Exploration phases Less Than Three Years, 2015

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