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Ghana Upstream Fiscal and Regulatory Report - Passage of Petroleum Act Creates Regulatory Stability Despite Ongoing Offshore Border Dispute

Ghana Upstream Fiscal and Regulatory Report - Passage of Petroleum Act Creates Regulatory Stability Despite Ongoing Offshore Border Dispute

Summary

“Ghana Upstream Fiscal and Regulatory Report - Passage of Petroleum Act Creates Regulatory Stability Despite Ongoing Offshore Border Dispute”, presents the essential information relating to the terms which govern investment into Ghana’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 Ghana’s upstream oil and gas investment climate.

Scope

  • Overview of current fiscal terms governing upstream oil and gas operations in Ghana
  • 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 Ghana
Reasons to buy
  • Understand the complex regulations and contractual requirements applicable to Ghana’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 Bonuses
4.2 Permit Fees
4.3 Surface Rentals
4.4 Training Allowance
4.5 Technology Allowance
4.6 Royalty
4.7 Direct Taxation
4.7.1 Corporate Tax
4.7.2 Deductions and Depreciation
4.7.3 Ring-fencing
4.7.4 Withholding Tax
4.7.5 Capital gains Tax
4.8 Additional Oil Entitlement
4.9 Indirect Taxation
4.9.1 Value Added Tax
4.9.2 Customs Duties
4.10 State Participation
4.10.1 Initial Interest
4.10.2 Additional Interest
4.11 Stability Clauses
4.12 Domestic Market Obligation
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
5.4 License Terms
5.4.1 Duration
5.4.2 Obligations
5.4.3 Relinquishment
5.5 Local Content
6 Outlook
7 Contact Information
1.1 List of Tables
Table 1: Summary
Table 2: Ghana, Exploration and Development Permit Fees (US$), 2016
Table 3: Ghana, Production Permit Fees (US$), 2016
Table 4: Ghana, Annual Rental Fees (US$ per km2) East Keta Ultra Deepwater Agreement, 2014
Table 5: Ghana, Annual Rental Fees (US$ per km2) Deepwater Tano Agreement, 2006
Table 6: Ghana, Annual Training Fees (US$), Various Agreements, 2014
Table 7: Ghana, Technology Allowance (US$), Various Agreements, 2014
Table 8: Ghana, Royalty Rates (%), Southwest Saltpond Agreement, 2014
Table 9: Ghana, Royalty Rates (%), East Keta Agreement, 2014
Table 10: Ghana, Royalty Rates (%), Deepwater Tano Agreement, 2006
Table 11: Ghana, Crude Oil Royalty Rates (%),Offshore Cape Three Points Agreement, 2005
Table 12: Ghana, Royalty Rates (%), West Cape Three Points Agreement, 2004
Table 13: Ghana, AOE Rates, Shallow Water Cape Three Points Offshore License, 2014
Table 14: Ghana, AOE Rates, Deepwater Cape Three Points West Offshore Agreement, 2014
Table 15: Ghana, AOE Rates, South-West Saltpond Agreement, 2014
Table 16: Ghana, AOE Rates, East Keta Ultra-deepwater Agreement, 2014
Table 17: Ghana, AOE Rates, Keta Agreement, 2010
Table 18: Ghana, AOE Rates, Offshore Saltpond Agreement, 2008
Table 19: Ghana, AOE Rates, Shallow Water Tano Agreement, 2006
Table 20: Ghana, AOE Rates, Deepwater Tano Agreement, 2006
Table 21: Ghana, AOE Rates, Offshore Cape Three Points Agreement, 2005
Table 22: Ghana, AOE Rates, West Cape Three Points Agreement, 2004
Table 23: Ghana, GNPC Interest (%), Various Agreements, 2004-2014
Table 24: Ghana, Top-Level Minimum Local Content Percentages (US%), 2016
Table 25: Ghana, Minimum Local Content (%) of Specific Goods and Services, 2016
1.2 List of Figures
Figure 1: Regime Flow Chart
Figure 2: Ghana, Indicative NPV10/boe, IRR and Fiscal Take Comparison - Internal, 2016
Figure 3: Ghana, Indicative NPV10/boe, IRR and Fiscal Take Comparison - Regional, 2016
Figure 4: Ghana, Legal Framework
Figure 5: Ghana, Institutional Framework

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