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Cyprus Upstream Fiscal and Regulatory Report - 3rd Licensing Round Looks to Capitalize on Neighbouring Zohr Discovery

Cyprus Upstream Fiscal and Regulatory Report - 3rd Licensing Round Looks to Capitalize on Neighbouring Zohr Discovery

Summary

“Cyprus Upstream Fiscal and Regulatory Report - 3rd Licensing Round Looks to Capitalize on Neighbouring Zohr Discovery”, presents the essential information relating to the terms which govern investment into Cyprus’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 Cyprus’s upstream oil and gas investment climate.

Scope

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


  • Regime Overview
    • Table Summary
    • Table Figure 1: Regime Flow Chart
  • Fiscal Take Assessment
    • Table Figure 2: Cyprus, Indicative NPV10/boe, IRR and Fiscal Take Comparison - Regional, 2015
  • Key Fiscal Terms
    • Signature Bonus
    • Production Bonus
    • Rental Fees
      • Table Cyprus, Annual Rental Fees (US$/km2), 1st, 2nd and 3rd Licensing Rounds
    • Training Contributions
    • Cost Recovery
      • Cost Recovery Limit
      • Recoverable Costs
    • Profit-Sharing
      • 2nd and 3rd Licensing Rounds
        • Table Cyprus, Profit-Sharing Mechanism, 2nd and 3rd Licensing Round
      • 1st Licensing Round
        • Table Cyprus, Profit Oil Sharing, Block 12 (1st Licensing Round)
        • Table Cyprus, Profit Gas Sharing, Block 12 (1st Licensing Round)
    • Direct Taxation
      • Corporation Tax
      • Deductions and Depreciation
      • Withholding Tax
      • Capital Gains Tax
    • Indirect Taxation
      • VAT
      • Customs Duties
    • EU Emissions Trading Scheme
  • Regulation and Licensing
    • Legal Framework
      • Table Figure 3: Cyprus, Legal Framework
      • Governing Law
      • Contract Type
      • Title to Hydrocarbons
    • Institutional Framework
      • Table Figure 4: Cyprus, Institutional Framework
      • Licensing Authority
      • Regulatory Agency
      • National Oil Company
    • Licensing Process
      • Licensing Rounds
        • Table Cyprus, Licensing Rounds, 2007-2016
      • License Applications
        • Table Cyprus, Legal, Technical and Financial Capacity Documentation, 3rd Licensing Round, 2016
      • Evaluation of Applications
        • Table Cyprus, Technical and Financial Proposal Mark Scheme, 3rd Licensing Round
    • License Terms
      • Duration and Relinquishments
      • Exploration Obligations
    • Operational Regulations
      • Work Programs and Drilling
      • Discoveries and Declarations of Commerciality
      • Development and Production Plan
      • Decommissioning Plan
    • Environmental Regulations
      • Environmental Impact Assessments
      • Environment Management Plan
      • Contingency Planning
      • Barcelona Convention
    • Local Content
    • Gas Development
  • Outlook
  • Contact Information

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