Papua New Guinea Upstream Fiscal and Regulatory Report - On the Road Towards a Tightening of its Favorable Fiscal Terms

  • ID: 4456799
  • Report
  • Region: Equatorial Guinea, Guinea, Papau New Guinea
  • 16 pages
  • GlobalData
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Papua New Guinea Upstream Fiscal and Regulatory Report - On the Road Towards a Tightening of its Favorable Fiscal Terms

Summary

"Papua New Guinea Upstream Fiscal and Regulatory Report - On the Road Towards a Tightening of its Favorable Fiscal Terms", presents the essential information relating to the terms which govern investment into Papua New Guinea’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 Papua New Guinea’s upstream oil and gas investment climate.

Scope
  • Overview of current fiscal terms governing upstream oil and gas operations in Papua New Guinea
  • 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 Papua New Guinea
Reasons to buy
  • Understand the complex regulations and contractual requirements applicable to Papua New Guinea’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. Royalty
4.1.2. Development Levy
4.1.3. License Fees (Repealed in 2016)
4.2. Direct Taxation
4.2.1. Petroleum Income Tax
4.2.2. Deductions and Depreciation
4.2.3. Withholding Tax
4.2.4. Additional Profits Tax
4.3. Indirect Taxation
4.3.1. Customs Duties
4.3.2. Other Taxes
4.4. Fiscal Stabilization
4.5. 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
5.4. License Terms
5.4.1. Duration and Relinquishments
5.4.2. Work Obligation
5.5. Local Content

6. Outlook

7. Appendix
7.1. Contact
7.2. Disclaimer

List of Tables
Table 1: Regime Overview
Table 2: Papua New Guinea, Pre-2016 License Fees (PGK)
Table 3: Papua New Guinea, Pre-2017 Income Tax Rates (%)
Table 4: Papua New Guinea: Additional Profits Tax

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