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Egypt Upstream Fiscal and Regulatory Report - Flexibility on Fiscal and Contractual Terms Likely To Continue Driving Investment Despite IOC Arrears

Press Release   •   Nov 03, 2016 05:57 EDT

Egypt Upstream Fiscal and Regulatory Report - Flexibility on Fiscal and Contractual Terms Likely To Continue Driving Investment Despite IOC Arrears, presents the essential information relating to the terms which govern investment into Egypts 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 states take from hydrocarbon production. Considering political, economic and industry specific variables, the report also analyses future trends for Egypts upstream oil and gas investment climate.

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Scope

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

- Assessment of the current fiscal regimes 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 Egypts upstream oil and gas sector

- Evaluate factors determining profit levels in the industry

- Identify potential regulatory issues facing investors in the countrys upstream sector

- Utilize considered insight on future trends to inform decision-making

Table of Contents

1 Table of Contents 1

1.1 List of Tables 2

1.2 List of Figures 2

2 Regime Overview 3

3 State Take Assessment 6

4 Key Fiscal Terms - Production Sharing Agreements 7

4.1 Bonuses 7

4.1.1 Signature Bonus 7

4.1.2 Production Bonus 7

4.1.3 Training Bonus 8

4.1.4 Assignment Bonus 8

4.1.5 Exploration Area Retention Bonus 8

4.1.6 Development Lease Bonus 8

4.2 Royalty 8

4.3 Cost Recovery 9

4.3.1 Cost Recovery Limit 9

4.3.2 Recoverable Costs 9

4.3.3 Excess Cost Recovery 9

4.4 Profit Sharing 10

4.4.1 EGPC Agreements 10

4.4.2 EGAS Agreements 12

4.4.3 GANOPE Agreements 14

4.5 Direct Taxation 15

4.5.1 Income Tax 15

4.5.2 Deductions and Depreciation 15

4.6 Customs Duties 16

5 Key Fiscal Terms - Service Contract 16

5.1 Signature Bonus 16

5.2 Tariff Fee 16

5.3 Baseline Service Fee 16

5.4 Production Remuneration 16

5.5 Direct Taxation 17

5.5.1 Corporate Income Tax 17

6 Regulation and Licensing 18

6.1 Legal Framework 18

6.1.1 Governing Law 18

6.1.2 Contract Type 18

6.1.3 Title to Hydrocarbons 19

6.2 Institutional Framework 19

6.2.1 Licensing Authority 20

6.2.2 National Oil Company 20

6.2.3 Regulatory Agency 20

6.3 Licensing Process 20

6.3.1 Qualification 20

6.3.2 Bidding 20

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