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Portugal Upstream Fiscal and Regulatory Report - Competitive Deepwater Regime Attracts Interest Despite Application of Royalties

Portugal Upstream Fiscal and Regulatory Report - Competitive Deepwater Regime Attracts Interest Despite Application of Royalties

Summary


“Portugal Upstream Fiscal and Regulatory Report - Competitive Deepwater Regime Attracts Interest Despite Application of Royalties”, presents the essential information relating to the terms which govern investment into Portugal’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 Portugal’s upstream oil and gas investment climate.

Scope

  • Overview of current fiscal terms governing upstream oil and gas operations in Portugal
  • 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 Portugal
Reasons to buy
  • Understand the complex regulations and contractual requirements applicable to Portugal’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 Figure1: Regime Flow Chart
  • State Take Assessment
    • Table Figure2: Portugal, Indicative NPV10/boe, IRR and State Take Comparison - Internal, 2016
    • Table Figure3: Portugal, Indicative NPV10/boe, IRR and State Take Comparison - Regional Peers, 2016
  • Key Fiscal Terms
    • Upfront Payments
      • Royalty
        • Table Portugal, Oil Royalty Rates (%), 2016
        • Table Portugal, Oil Royalty Rates (%), Onshore, Aljezur (Area 82), 2015
        • Table Portugal, Deepwater Production-Based Royalty Rates (%), 2007-2015
        • Table Portugal, Oil Royalty Rates ( /boe) Deepwater, Lagosta (Block 13) and Lagostim (Block 14), 2011
        • Table Portugal, Surface Rental fees ( /km2), Caranguejo (Area 240), 2015
        • Table Portugal, Selected Depreciation and Amortization Rates (%), 2014
      • Stamp Duty
      • Municipal Property Tax
      • EU Emissions Trading Scheme
  • Regulation and Licensing
    • Legal Framework
      • Table Figure4: Portugal, Legal Framework
      • Governing Law
      • Contract Type
      • Title to Hydrocarbons
    • Institutional Framework
      • Table Figure5: Portugal, Institutional Framework
    • Licensing Process
      • Competitive Bidding
      • Direct Negotiation
      • Fees
        • Table Portugal, Licensing Fees ( ), 2014
    • License Terms
      • Duration
      • Area and Relinquishments
      • Exploration Obligations
  • Outlook
  • Contact Information

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