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Senegal Upstream Fiscal and Regulatory Report - New Petroleum Code Under Development

Senegal Upstream Fiscal and Regulatory Report - New Petroleum Code Under Development

Summary

“Senegal Upstream Fiscal and Regulatory Report - New Petroleum Code Under Development”, presents the essential information relating to the terms which govern investment into Senegal’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 Senegal’s upstream oil and gas investment climate.

Scope

  • Overview of current fiscal terms governing upstream oil and gas operations in Senegal
  • 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 Senegal
Reasons to buy
  • Understand the complex regulations and contractual requirements applicable to Senegal’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: Senegal, Indicative NPV10/boe, IRR and State Take Comparison - Internal, 2016
    • Table Figure 3: Senegal, Indicative NPV10/boe, IRR and State Take Comparison - Regional, 2016
  • Key Fiscal Terms
    • Bonuses and Fees
      • Signature Bonus
      • Annual Training Budget
        • Table Senegal, Annual Contributions (US$), Saint Louis Offshore Profond and Cayar Offshore Profond PSAs, 2012
      • Surface Rentals
        • Table Senegal, Surface Rental Rates (US$/km2), 2016
    • Cost Recovery
      • Cost Recovery Limit
        • Table Senegal, Cost Recovery Limit (%), Selected PSAs
    • Recoverable Costs
      • Table Senegal, Recoverable Share of G&A Costs Incurred Abroad (%), Saint Louis Offshore Profond
    • Profit-Sharing
      • Production-Based Mechanism (Senegal PSAs)
        • Table Senegal, Profit Split (%), Shallow and Deepwater, Sangomar Offshore Profond PSA, 2004
        • Table Senegal, Profit Split (%), Saint Louis Offshore Profond and Cayar Offshore Profond PSAs, 2012
        • Table Senegal, Profit Split (%), Crude Oil and Natural Gas, Louga PSA, 2013
        • Table Senegal, Profit Split (%), Selected PSAs, 2008-2012
      • R-Factor Mechanism (AGC PSAs)
        • Table Senegal, Profit Split (%), AGC Shallow (2011) and AGC Central (2014) PSAs
    • Direct Taxation
      • Corporate Income Tax
      • Deductions and Depreciation
    • Indirect Taxation
      • VAT
      • Customs Duties
    • State Participation
      • Table Senegal, Petrosen Equity Interest (%), Standard and Back-in Right, Selected PSAs
    • Stability Clauses
  • Regulation and Licensing
    • Legal Framework
      • Table Figure 4: Senegal, Legal Framework
      • Governing Law
      • Contract Type
      • Title to Hydrocarbons
    • Institutional Framework
      • Table Figure 5: Senegal, Institutional Framework
      • Licensing Authority
      • Regulatory Agencies
      • National Oil Company
    • Licensing Process
    • License Terms
      • Duration and Relinquishment
      • Obligations
        • Table Senegal, Minimum Exploration Obligations (US$), Saint Louis Offshore Profond and Cayar Offshore Profond PSAs, 2012
        • Table Senegal, Exploration Minimum Investment Spend (US$), Selected PSAs
    • Local Content
  • Outlook
  • Contact Information

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