Tanzania Upstream Fiscal and Regulatory Report - New Laws Add Substantial Contract Risk

  • ID: 4391980
  • Report
  • Region: Tanzania
  • 29 pages
  • GlobalData
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Tanzania Upstream Fiscal and Regulatory Report - New Laws Add Substantial Contract Risk

Summary

“Tanzania Upstream Fiscal and Regulatory Report - New Laws Add Substantial Contract Risk”, presents the essential information relating to the terms which govern investment into Tanzania’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 Tanzania’s upstream oil and gas investment climate.

Scope
  • Overview of current fiscal terms governing upstream oil and gas operations in Tanzania
  • 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 Tanzania
Reasons to buy
  • Understand the complex regulations and contractual requirements applicable to Tanzania’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. Annual Fees
4.1.2. Bonuses
4.1.3. Royalties
4.2. Cost Recovery
4.2.1. Limit on Recovery
4.2.2. Recoverable Costs
4.3. Profit Sharing
4.3.1. Model Contract Terms
4.3.2. Current License Terms
4.4. Direct Taxation
4.4.1. Petroleum Income Tax
4.4.2. Deductions and Depreciation
4.4.3. Minimum Alternate Tax
4.4.4. Additional Profits Tax
4.4.5. Branch Remittance Tax
4.4.6. Withholding Tax
4.4.7. Capital Gains Tax
4.5. Indirect Taxation
4.5.1. Value Added Tax
4.5.2. Customs Duties
4.6. Assignment Fees
4.7. Decommissioning Fund
4.8. State Participation
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
5.5. Domestic Market Obligation
5.6. Local Content
6. Outlook
7. Appendix
7.1. Contact
7.2. Disclaimer

List of Tables
Table 1: Regime Overview
Table 2: Tanzania, Annual Charge (US$/km2), 1995, 2004, 2008 and 2013 Model Contracts
Table 3: Tanzania, Royalty Rates (%), 1995, 2004, 2008 and 2013 Model Contracts
Table 4: Tanzania, Profit Sharing Framework, 2013 Model Contract, Onshore and Continental Shelf
Table 5: Tanzania, Profit Sharing Framework, 2013 Model Contract, Deepwater and Lake Tanganyika
Table 6: Tanzania, Profit Sharing Framework, 2008 Model Contract
Table 7: Tanzania, Profit Sharing Framework, 2004 Model Contract, Onshore and Continental Shelf
Table 8: Tanzania, Profit Sharing Framework, 2004 Model Contract, Deepwater
Table 9: Tanzania, Profit Sharing Framework, 1995 Model Contract
Table 10: Tanzania, Profit Sharing Framework, Block 2 PSA
Table 11: Tanzania, Profit Sharing Framework, Pangani and Kilosa-Kilombero PSAs
Table 12: Tanzania, Profit Sharing Framework, Mnazi Bay PSA
Table 13: Tanzania, Profit Sharing Framework, Songo Songo Field, Natural Gas
Table 14: Tanzania, Withholding Tax Rates (%)
Table 15: Tanzania, Maximum TPDC Interest (%), 2004 Model, Onshore and Continental Shelf
Table 16: Tanzania, Maximum TPDC Interest (%), 2004 Model, Deepwater (Water Depth > 500m)
Table 17: Tanzania, Maximum TPDC Interest (%), 1995 Model
Table 18: Tanzania, Preferential Weighting for Domestic Contractors, Public Procurement Regulations, 2013
Table 19: Tanzania, Local Content, Minimum Petroleum Industry Local Employment Levels (%)

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