Suriname Upstream Fiscal and Regulatory Report-Offshore Open Door Licensing Set to Resume in September

Suriname Upstream Fiscal and Regulatory Report-Offshore Open Door Licensing Set to Resume in September


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Executive Summary

Suriname Upstream Fiscal and Regulatory Report-Offshore Open Door Licensing Set to Resume in September

Summary

"Suriname Upstream Fiscal and Regulatory Report-Offshore Open Door Licensing Set to Resume in September", presents the essential information relating to the terms which govern investment into Suriname'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 Suriname's upstream oil and gas investment climate.

Scope

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

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 Suriname

Reasons to buy

Understand the complex regulations and contractual requirements applicable to Suriname'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

1. Table of Contents 1

1.1. List of Tables 3

1.2. List of Figures 3

2. Regime Overview 4

3. State Take Assessment 7

4. Key Fiscal Terms-Production Sharing Agreement 8

4.1. Royalties, Bonuses and Fees 8

4.1.1. Royalty 8

4.1.2. Social Responsibility and Training 8

4.1.3. Signature Bonus 8

4.2. Cost Recovery 8

4.2.1. Limit on Recovery 8

4.2.2. Recoverable Costs 8

4.3. Profit Sharing 9

4.4. Direct Taxation 10

4.4.1. Petroleum Income Tax 10

4.4.2. Deductions and Depreciation 10

4.4.3. Withholding Tax 10

4.5. Indirect Taxation 11

4.5.1. Turnover Tax 11

4.5.2. Customs Duties 11

4.6. State Participation 11

4.7. Abandonment Fund 11

5. Key Fiscal Terms-Concession Agreement 12

5.1. Royalties, Bonuses and Fees 12

5.1.1. Royalty 12

5.2. Direct Taxation 12

5.2.1. Petroleum Income Tax 12

5.2.2. Deductions and Depreciation 12

5.2.3. Withholding Tax 12

5.3. Indirect Taxation 12

6. Regulation and Licensing 13

6.1. Legal Framework 13

6.1.1. Governing Law 13

6.1.2. Contract Type 13

6.1.3. Title to Hydrocarbons 14

6.2. Institutional Framework 15

6.2.1. Licensing Authority 15

6.2.2. Regulatory Agency 15

6.2.3. National Oil Company 15

6.3. Licensing Process 16

6.3.1. Open Door Policy 16

6.3.2. Licensing Rounds 16

6.3.3. Prequalification 16

6.3.4. Bidding 17

6.4. License Terms 17

6.4.1. Duration and Relinquishments 17

6.4.2. Work Obligation 18

6.5. Local Content 19

7. Outlook 20

8. Appendix 21

8.1. Contact Us 21

8.2. Disclaimer 21

1.2 List of Figures

Figure 1: Regime Flow Chart-Production Sharing Agreement 5

Figure 2: Regime Flow Chart-Concession Agreement 6

Figure 3: Suriname, Indicative NPV10/boe, IRR and State Take Comparison, Regional 7

Figure 4: Suriname, Legal Framework 13

Figure 5: Suriname, Institutional Framework 15

1.1 List of Tables

Table 1: Regime Overview 4

Table 2: Suriname, 2014/2015 Licensing Round Staatsolie Profit Share (%), Blocks 58, 59 and 60 9

Table 3: Suriname, Block 42 and 45 Profit Sharing Framework 9

Table 4: Suriname, 2003-2004 Bid Round Profit Sharing Framework 10

Table 5: Suriname, Minimum Work Program for Block 59 and 60, 2015 17

Table 6: Suriname, Relinquishments for Block 58, 59 and 60, 2015 18

Table 7: Suriname, Work Obligation Costs for Block 45, 2011 18

Single User License:
Report can be used by individual purchaser only

Site License:
Report can be shared by unlimited users within one corporate location, e.g. a regional office

Corporate User License: 
Report can be shared globally by unlimited users within the purchasing corporation e.g. all employees of a single company

To know more information on Purchase by Section, please send a mail to sales [@] kenresearch.com
 

select a license
Single User License
USD 1000 INR 70000
Site License
USD 1500 INR 105000
Corporate User License
USD 3000 INR 210000

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