Uruguay Upstream Fiscal and Regulatory Report - Third Offshore Bid Round Delayed Due to Low Prices

Uruguay Upstream Fiscal and Regulatory Report - Third Offshore Bid Round Delayed Due to Low Prices


“Uruguay Upstream Fiscal and Regulatory Report - Third Offshore Bid Round Delayed Due to Low Prices”, presents the essential information relating to the terms which govern investment into Uruguay’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 Uruguay’s upstream oil and gas investment climate.


  • Overview of current fiscal terms governing upstream oil and gas operations in Uruguay
  • 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 Uruguay
Reasons to buy
  • Understand the complex regulations and contractual requirements applicable to Uruguay’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 Summary
    • Table Summary
    • Regime Overview
      • Table Figure 1: Regime Flow Chart
  • State Take Assessment
    • Table Figure 2: Uruguay, State Take Comparison - Internal, 2015
    • Table Figure 3: Uruguay, Indicative NPV10/boe, IRR and State Take Comparison - Resource Peer Group, 2015
  • Key Fiscal Terms
    • Cost Recovery
      • Cost Recovery Limit
        • Table Uruguay, Cost Recovery Limits, First Offshore Round
      • Recoverable Costs
    • Profit-Sharing
      • Table Uruguay, Profit-Sharing - R-factor, Onshore PSAs and 2nd Round Offshore PSAs
      • Table Uruguay, Profit-Sharing, First Offshore Round, 2009
    • Direct Taxation
      • Corporate Income Tax
        • Table Uruguay, Indicator composition and point score weightings for investment exemption, 2012
        • Table Uruguay, Employment generation criteria for bids (%), 2015
        • Table Uruguay, Weight of criteria for bids (%), 2015
        • Table Uruguay, Montevideo investment credit qualification points, 2015
        • Table Uruguay, Industrial sector investment credit qualiciation points, 2015
      • Round II Tax Exemption
      • Deductions and Depreciation
    • Indirect Taxation
      • Value-Added Tax
      • Customs Duties
    • State Participation
    • Domestic Market Obligation
  • Regulation and Licensing
    • Legal Framework
      • Table Figure 4: Uruguay, Legal Framework
      • Governing Law
      • Contract Type
      • Title to Hydrocarbons
    • Institutional Framework
      • Table Figure 5: Uruguay, Institutional Framework
      • Licensing Authority
      • Regulatory Agency
      • National Oil Company
    • Licensing Process
      • Prequalification
      • Bidding
        • Table Uruguay, Value of Exploratory Programs, 2015
        • Table Uruguay, Weighted percentage of Criteria for Bids (%), 2015
    • License Terms
      • Duration
      • Work Obligations
      • Right of Purchase
  • Outlook
  • Contact Information

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