Uruguay Upstream Fiscal and Regulatory Report - 3rd Offshore Licensing Round set to close in April 2018

  • ID: 4497133
  • Report
  • Region: Uruguay
  • 28 pages
  • GlobalData
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Uruguay Upstream Fiscal and Regulatory Report - 3rd Offshore Licensing Round set to close in April 2018

Summary

"Uruguay Upstream Fiscal and Regulatory Report - 3rd Offshore Licensing Round set to close in April 2018", presents the essential information relating to the terms which govern investment into Uruguay’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 Uruguay’s upstream oil and gas investment climate.

Scope
  • Overview of current fiscal terms governing upstream oil and gas operations in Uruguay
  • 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 Uruguay
Reasons to buy
  • Understand the complex regulations and contractual requirements applicable to Uruguay’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
4.2. 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. Value Added Tax
4.5.2. Customs Duties
4.6. State Participation
4.7. Fiscal Stabilization

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 (NOC)
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. Local Content

6. Outlook

7. Appendix
7.1. Contact
7.2. Disclaimer

List of Tables
Table 1: Uruguay Regime Overview
Table 2: Uruguay, Cost recovery limits in (%), third offshore round offering 17 blocks.
Table 3: Uruguay, Cost Recovery limits of the first Offshore Round (%)
Table 4: Uruguay, Profit Sharing - R-Factor, Onshore PSA, 2nd and 3rd Round Offshore PSAs
Table 5: Uruguay Profit Sharing in (%), First Offshore Round (2009).
Table 6: Uruguay, Profit Sharing in (%), First Offshore Round (2009)
Table 7: Uruguay, Employment generation criteria for bids (%), 2015
Table 8: Uruguay, Weight criteria for bids (%), 2015
Table 9: Montevideo investment credit qualification points, 2015
Table 10: Uruguay Industrial sector investment credit qualification points, 2015
Table 11: Uruguay Round III, Pre-qualification terms
Table 12: Uruguay, 3rd offshore licensing round, Value Working Units of the Exploratory Program
Table 13: Uruguay, Second & Third Offshore Licensing Round Uruguay, Weight of Criteria for Bids (%)
Table 14: Uruguay, 3rd onshore licensing round, value working units for exploratory program
Table 15: Uruguay, weight of criteria for bids, onshore bidding.

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