Kazakhstan Upstream Fiscal and Regulatory Report - Alternative Subsoil Tax Regime Looks to Incentivize Offshore and Deep Reservoir Development

  • ID: 4584099
  • Report
  • Region: Kazakhstan
  • 37 pages
  • GlobalData
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Kazakhstan Upstream Fiscal and Regulatory Report - Alternative Subsoil Tax Regime Looks to Incentivize Offshore and Deep Reservoir Development

Summary

"Kazakhstan Upstream Fiscal and Regulatory Report - Alternative Subsoil Tax Regime Looks to Incentivize Offshore and Deep Reservoir Development", presents the essential information relating to the terms which govern investment into Kazakhstan’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 Kazakhstan’s upstream oil and gas investment climate.

Scope
  • Overview of current fiscal terms governing upstream oil and gas operations in Kazakhstan
  • 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 Kazakhstan
Reasons to buy
  • Understand the complex regulations and contractual requirements applicable to Kazakhstan’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- Royalty/Tax Subsoil Use Contracts
4.1. Bonuses and Fees
4.1.1. Signature Bonus
4.1.2. Commercial Discovery Bonus
4.1.3. Historical Cost Compensation
4.2. Mineral Extraction Tax
4.2.1. General Rates
4.2.2. Rates for Low-Profit, High-Viscosity, Water-Flooded, Marginal and Depleted Fields
4.3. Export Taxes
4.3.1. Rental Tax on Exports
4.3.2. Export Duty
4.4. Direct Taxation
4.4.1. Corporate Income Tax
4.4.2. Branch Profit Tax
4.4.3. Excess Profit Tax
4.4.4. Deductions and Depreciation
4.4.5. Withholding Tax
4.5. Alternative Tax on Subsoil Use
4.6. Indirect Taxation
4.6.1. Value Added Tax
4.6.2. Property Tax
4.6.3. Land Tax
4.6.4. Import Duties
4.6.5. Environmental Levy
4.7. Liquidation Fund
4.8. State Participation

5. Key Fiscal Terms - Production Sharing Agreement
5.1. Royalties, Bonuses and Fees
5.1.1. Bonuses
5.1.2. Social Contributions
5.1.3. Training Contributions
5.1.4. Royalty
5.2. Cost Recovery
5.3. Profit-Sharing
5.3.1. 2005 PSA Model
5.3.2. North Caspian Sea PSA
5.3.3. Chinarevskoye PSA
5.4. Export Duty
5.5. Taxation
5.5.1. Corporate Income Tax
5.5.2. Deductions and Depreciation
5.5.3. Top Up Tax
5.5.4. Tax Exemptions
5.6. Stabilization

6. Regulation and Licensing
6.1. Legal Framework
6.1.1. Governing Law
6.1.2. Contract Type
6.1.3. Title to Hydrocarbons
6.2. Institutional Framework
6.2.1. Licensing Authority
6.2.2. Regulatory Agency
6.2.3. National Oil Company
6.3. Licensing Process
6.4. License Terms
6.4.1. Duration
6.4.2. Work Obligations
6.4.3. Local Content
6.4.4. Domestic Market Obligation
6.5. Environmental Regulation

7. Outlook

8. Appendix
8.1. References
8.2. Contact
8.3. Disclaimer

List of Tables
Table 1: Regime Overview
Table 2: Kazakhstan, Monthly Calculation Index (MCI)
Table 3: Kazakhstan, MET Rates - Oil (%)
Table 4: Kazakhstan, MET Rates - Natural Gas (%)
Table 5: Kazakhstan, Reduced Oil MET Rates - High Viscosity (%)
Table 6: Kazakhstan, Reduced Oil MET Rates -Water-Flooded (%)
Table 7: Kazakhstan, Reduced Oil MET Rates -Depleted Fields (%)
Table 8: Kazakhstan, Reduced Oil MET Rates -Marginal (%)
Table 9: Kazakhstan, Rental Tax on Export Rates (%), 2009 onwards
Table 10: Kazakhstan, Oil Export Duty Rates, March 2016 onwards
Table 11: Kazakhstan, Oil Export Duty Rates (US$/tonne), April 2008-February 2016
Table 12: Kazakhstan, Excess Profit Tax Rates (%), 1998 onwards
Table 13: Kazakhstan, Excess Profits Tax Rates - Kenbay, 1996
Table 14: Kazakhstan, Depreciation Rates by Asset Class (%), 2009 onwards
Table 15: Kazakhstan, Alternative Tax on Subsoil Use Rate (%)
Table 16: Kazakhstan, Environmental Levy - Emissions from Stationary Sources, 2018
Table 17: Kazakhstan, Environmental Levy - Gas Flaring Rates, 2018
Table 18: Kazakhstan, Environmental Levy - Charges for Emissions Of Pollutants into the Air from Mobile Sources
Table 19: Kazakhstan, North Caspian Sea PSA, Bonuses (US$ mil)
Table 20: Kazakhstan, Chinarevskoye PSA, Royalty Rates (%)
Table 21: Kazakhstan, 2005 PSA Model, Profit-Sharing State Share(%)
Table 22: Kazakhstan, North Caspian Sea PSA, Profit-Sharing State Share, R-factor and Real IRR (%)
Table 23: Kazakhstan, North Caspian Sea PSA, Profit-Sharing State Share, Volume factor (%)
Table 24: Kazakhstan, Chinarevskoye PSA, Profit-Sharing State Share (%)
Table 25: Kazakhstan, North Caspian Sea PSA, Tax Rate (%)
Table 26: References

List of Figures
Figure 1: Regime Flow Chart - Royalty/Tax Subsoil Use Contract
Figure 2: Regime Flow Chart - Royalty/Tax Subsoil Use Contract Alternative Subsoil Tax (Offshore & Deep Reservoirs)
Figure 3: Regime Flow Chart - Production Sharing Agreement (2005 Model)
Figure 4: Kazakhstan, Indicative NPV10/boe, IRR and State Take Comparison, Regional
Figure 5: Kazakhstan, Legal Framework
Figure 6: Kazakhstan, Institutional Framework
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