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Egypt Upstream Fiscal and Regulatory Report - EGPC and EGAS Bid Rounds Opened for 2018

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    Report

  • 33 Pages
  • June 2018
  • Region: Egypt
  • GlobalData
  • ID: 4586865
Egypt Upstream Fiscal and Regulatory Report - EGPC and EGAS Bid Rounds Opened for 2018

Summary

"Egypt Upstream Fiscal and Regulatory Report - EGPC and EGAS Bid Rounds Opened for 2018", presents the essential information relating to the terms which govern investment into Egypt’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 Egypt’s upstream oil and gas investment climate.

Scope
  • Overview of current fiscal terms governing upstream oil and gas operations in Egypt

  • 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 Egypt.


Reasons to buy
  • Understand the complex regulations and contractual requirements applicable to Egypt’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.

Table of Contents

1 Table of Contents2. Regime Overview3. State Take Assessment
4. Key Fiscal Terms- Production Sharing Agreements
4.1. Royalties, Bonuses and Fees
4.1.1. Signature Bonus
4.1.2. Production Bonus
4.1.3. Training Bonus
4.1.4. Assignment Bonus
4.1.5. Exploration Area Retention Bonus
4.1.6. Development Lease Bonus
4.1.7. Royalty (Paid out of NOC share)
4.2. Cost Recovery
4.2.1. Cost Recovery Limit
4.2.2. Recoverable Costs
4.2.3. Excess Cost Recovery
4.3. Profit Sharing
4.3.1. EGPC Agreements
4.3.2. EGAS Agreements
4.3.3. GANOPE Agreements
4.4. Direct Taxation
4.4.1. Income Tax
4.4.2. Deductions and Depreciation
4.5. Tax Exemptions
5. Key Fiscal Terms - Service Contracts
5.1. Royalties, Bonuses and Fees
5.1.1. Signature Bonus
5.1.2. Tariff Fee
5.2. Baseline Service Fee
5.3. Remuneration
5.4. Direct Taxation
5.4.1. Corporate Income Tax
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. National Oil Company
6.2.3. Regulatory Agency
6.3. Licensing Process
6.3.1. Qualification
6.3.2. Bidding
6.4. License Terms
6.4.1. Duration and Relinquishment
6.4.2. Exploration Obligation
6.4.3. Management of Operations
6.5. Domestic Market Obligation
7. Outlook
8. Appendix
8.1. References
8.2. Contact
8.3. Disclaimer
List of Tables
Table 1: Regime Overview
Table 2: Egypt, Production Bonus Thresholds in Model Contracts
Table 3: Egypt, Production Bonuses (US$ million), Various Concessions
Table 4: Egypt, Cost Recovery Limits (%), Various Concessions
Table 5: Egypt, Minimum NOC Share of Excess Cost Recovery Rates (%), Bid Rounds 2014 -2016
Table 6:Egypt, Oil and Condensate Profit Sharing Framework (% Contractor Share), EGPC 2018Round
Table 7:Egypt, Gas and LPG Profit Sharing Framework (% Contractor Share), EGPC 2018Round
Table 8: Egypt, Profit Sharing Framework, East Ras Qattara Concession (2004)
Table 9: Egypt, EGPC 2003 and 2004 Model Contract Profit Sharing Framework
Table 10: Egypt, Profit Sharing Framework, NW Gemsa Concession (2002)
Table 11: Egypt, Profit Sharing Framework, Burg El Arab Concession (1990)
Table 12: Egypt, Oil and Condensate Production Sharing Framework (% Contractor Share), EGAS 2018 Round
Table 13: Egypt, Gas and LPG Production Sharing Framework (% Contractor Share), EGAS 2018 Round
Table 14: Egypt, Profit Sharing Framework, South Disouq Concession (2014)
Table 15: Egypt, Oil and Condensate Profit Sharing Framework (% Contractor Share), Shorouk Concession (2014)
Table 16: Egypt, Gas Profit Sharing Framework, Shorouk Concession
Table 17: Egypt, Profit Sharing Framework, North El Maghara Concession, 2007
Table 18: Egypt, Oil and Condensate Production Sharing Framework (% Contractor Share), GANOPE 2016 Licensing Round
Table 19: Egypt, Gas and LPG Production Sharing Framework (% Contractor Share), GANOPE 2016 Licensing Round
Table 20: Egypt, Tariff Fee, West Gharib Block H Service Contract
Table 21: Egypt, Contractor Remuneration (% of incremental production), Area A Service Contract
Table 22: Egypt, Contractor Remuneration (% of incremental production), Issaran Service Contract
Table 23: References
List of Figures
Figure 1: Egypt, Regime Flow Chart - Production Sharing Agreement
Figure 2: Egypt, Regime Flow Chart - Service Contract
Figure 3: Egypt, Indicative NPV10/boe, IRR and State Take Comparison,Regional
Figure 4: Egypt, Legal Framework
Figure 5: Egypt, Institutional Framework