Georgia Upstream Fiscal and Regulatory Report - Government Considering Opening Tender for Unlicensed Blocks

Georgia Upstream Fiscal and Regulatory Report - Government Considering Opening Tender for Unlicensed Blocks


“Georgia Upstream Fiscal and Regulatory Report - Government Considering Opening Tender for Unlicensed Blocks”, presents the essential information relating to the terms which govern investment into Georgia’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 Georgia’s upstream oil and gas investment climate.


  • Overview of current fiscal terms governing upstream oil and gas operations in Georgia
  • 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 Georgia
Reasons to buy
  • Understand the complex regulations and contractual requirements applicable to Georgia’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
  • State Take Assessment
    • Table Figure 2: Georgia, Indicative NPV10/boe, IRR and State Take Comparison - Regional, 2016
  • Key Fiscal Terms
    • Royalties, Bonuses and Fees
      • Bonuses
        • Table Georgia, Signature Bonuses (US$), 2008 Tender
        • Table Georgia, Commercial Discovery Bonuses (US$ million), Selected PSAs
      • Regulatory Fee
      • Natural Resources Usage Fee (Paid by State)
    • Baseline Production (Blocks XIB and XIE)
    • Cost Recovery
      • Limit on Recovery
      • Recoverable Costs
    • Profit-Sharing
      • Table Georgia, State Share of Profit Oil (%), Selected PSAs
    • Direct Taxation
      • Profit Tax (Paid out of State Share of Profit Oil)
      • Deductions and Depreciation
      • Withholding Tax
    • Indirect Taxation
      • Value Added Tax and Customs Duty Exemption
      • Property Tax
    • State Participation
      • Table Georgia, State Back-In Right (%), Selected PSAs
    • Stability Provisions
  • Regulation and Licensing
    • Legal Framework
      • Table Figure 3: Georgia, Legal Framework
      • Governing Law
      • Contract Type
      • Title to Hydrocarbons
    • Institutional Framework
      • Table Figure 4: Georgia, Institutional Framework
      • Licensing Authority
      • Regulatory Agency
      • National Oil Company
    • Licensing Process
    • License Terms
      • Duration and Relinquishments
      • Work Obligations
  • Outlook
  • Contact Information

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