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Barbados Upstream Fiscal and Regulatory Report - Legislative Amendments Clear the Way for Future Licensing

Barbados Upstream Fiscal and Regulatory Report - Legislative Amendments Clear the Way for Future Licensing

Summary

“Barbados Upstream Fiscal and Regulatory Report - Legislative Amendments Clear the Way for Future Licensing”, presents the essential information relating to the terms which govern investment into Barbado’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 Barbado’s upstream oil and gas investment climate.

Scope

  • Overview of current fiscal terms governing upstream oil and gas operations in Barbado
  • 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 Barbado
Reasons to buy
  • Understand the complex regulations and contractual requirements applicable to Barbado’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


1 Table of Contents
1.1 List of Tables
1.2 List of Figures
2 Regime Overview
3 State Take Assessment
4 Key Fiscal Terms
4.1 Royalties, Bonuses and Fees
4.1.1 Royalty
4.1.2 Signature Bonus
4.1.3 Area Fee
4.1.4 Training Fee
4.1.5 Coastal and Marine Environment Research Fee
4.2 Direct Taxation
4.2.1 Offshore Petroleum Income Tax
4.2.2 Offshore Petroleum Additional Profits Tax
4.2.3 Onshore Petroleum Income Tax
4.3 Deductions and Depreciation
4.3.1 Offshore:
4.3.2 Onshore:
4.3.3 Withholding Tax
4.4 Indirect Taxation
4.4.1 Import Taxes and Duties
4.4.2 Value Added Tax
4.5 Abandonment Fund
4.6 State Participation
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
5.3 Licensing Process
5.3.1 Licensing Rounds
5.3.2 Prequalification
5.3.3 Bidding
5.4 License Terms
5.4.1 Exploration License
5.4.2 Production License
5.4.3 Domestic Market Obligation
6 Outlook
7 Contact Information
1.1 List of Tables
Table 1: Summary
Table 2: Barbados, Exploration License Area Fee (BBD/km2), 2008-2013 Regulation, 2016
Table 3: Barbados, State Participation (%), 2016
Table 4: Barbados, Exploration Phases, 2015 Licensing Round, 2016
Table 5: Barbados, Exploration Phases, 2008 Licensing Round, 2016
1.2 List of Figures
Figure 1: Regime Flow Chart
Figure 2: Barbados, Indicative NPV10/boe, IRR and State Take Comparison - Regional, 2016
Figure 3: Barbados, Legal Framework
Figure 4: Barbados, Institutional Framework

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