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Trinidad and Tobago Upstream Fiscal and Regulatory Report - New Government Plans Onshore and Offshore Bid Rounds in 2016

Trinidad and Tobago Upstream Fiscal and Regulatory Report - New Government Plans Onshore and Offshore Bid Rounds in 2016

Summary

“Trinidad and Tobago Upstream Fiscal and Regulatory Report - New Government Plans Onshore and Offshore Bid Rounds in 2016”, presents the essential information relating to the terms which govern investment into Trinidad and Tobago’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 Trinidad and Tobago’s upstream oil and gas investment climate.

Scope

  • Overview of current fiscal terms governing upstream oil and gas operations in Trinidad and Tobago
  • 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 Trinidad and Tobago
Reasons to buy
  • Understand the complex regulations and contractual requirements applicable to Trinidad and Tobago’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 - Royalty/Tax
    • Table Figure 2: Regime Flow Chart - Production Sharing Agreement
  • State Take Assessment
    • Table Figure 3: Trinidad and Tobago, Indicative NPV10/boe, IRR and State Take Comparison - Internal, 2016
    • Table Figure 4: Trinidad and Tobago, Indicative NPV10/boe, IRR and State Take Comparison - Regional 2016
  • Key Fiscal Terms - Royalty and Tax
    • Upfront Payments
      • Bonuses
        • Table Trinidad and Tobago - Royalty/Tax, Production Bonuses, Ortoire (2014)
      • Rentals and Minimum Payment
      • Royalties
      • Green Fund Levy
      • Petroleum Impost
        • Table Trinidad and Tobago, Petroleum Impost Rates, 2010-2015
      • Petroleum Production Levy
      • Scholarship
      • Training and Research and Development Contributions
    • Supplemental Petroleum Tax
      • Table Trinidad and Tobago, Supplemental Petroleum Tax Rates (%), 2010 onwards
      • Table Trinidad and Tobago, Supplemental Petroleum Tax Rates (%), 2005-2009
      • Table Trinidad and Tobago, Supplemental Petroleum Tax, 1992-2004
      • Table Trinidad and Tobago, Supplemental Petroleum Tax, 1981-1991
    • Direct Taxation
      • Petroleum Profits Tax
        • Table Trinidad and Tobago, Petroleum Profit Tax, 1974-2016
      • Unemployment Levy
      • Deductions and Depreciation
      • Uplift
      • Branch Remittance Tax
    • Indirect Taxation
      • Value Added Tax (VAT)
      • Custom Duties
    • Abandonment Fund
    • State Participation
      • Carried Interest
      • Petrotrin Overriding Royalty
        • Table Trinidad and Tobago, Overriding Royalty, Trintes
  • Key Fiscal Terms - Royalty and Tax - 2016
    • Upfront Payments
      • Bonuses
        • Table Trinidad and Tobago - PSA, Production Bonuses (US$), 2016
      • Minimum Payment
        • Table Trinidad and Tobago - PSA, Minimum Payment Rates (US$/hectare), 2016
      • Scholarship
      • Training and Research and Development Contribution
        • Table Trinidad and Tobago - PSA, Production Bonuses (US$), 2016
      • Administrative Charge
      • Escrow Account
      • Royalties, Petroleum Impost, Green Fund Levy and Petroleum Levy (Paid by State for Most PSAs)
    • Cost Recovery
      • Cost Recovery Limit
        • Table Trinidad and Tobago, Cost Recovery Limit (%), 2010-2016 Contracts
        • Table Trinidad and Tobago, Cost Recovery Limits (%), Representative Pre-2010 Contracts
      • Recoverable Costs
    • Profit-Sharing
      • Table Trinidad and Tobago, Representative State Share of Profit Oil (%), 2016
      • Table Trinidad and Tobago, Price Classes, 2016
    • Direct Taxation
      • Petroleum Profits Tax, Unemployment Levy, &Supplemental Petroleum Tax
      • Branch Remittance Tax
    • Indirect Taxation
    • State Participation
  • Regulation and Licensing
    • Legal Framework
      • Table Figure 5: Trinidad and Tobago, Legal Framework
      • Governing Law
      • Contract Type
      • Title to Hydrocarbons
    • Institutional Framework
      • Table Figure 6: Trinidad and Tobago, Institutional Framework
      • Licensing Authority
      • Regulatory Agency
      • National Oil Company
    • Licensing Process
      • Pre-qualification
        • Table Trinidad and Tobago, Operator Points Scheme, 2016
      • Bidding
      • Bid Evaluation
        • Table Trinidad and Tobago, Marks Scheme, 2013 Bid Rounds
        • Table Trinidad and Tobago, Drilling Marks Scheme, 2013 Bid Rounds
    • License Terms
      • Duration
      • Work Programs
      • Local Content
  • Outlook
  • Contact Information

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