Dublin, Feb. 14, 2019 (GLOBE NEWSWIRE) -- The "Iraq Upstream Fiscal and Regulatory Report - Sector Challenged by Regulatory Uncertainty and Tough Fiscal Terms" report has been added to ResearchAndMarkets.com's offering.
Iraq Upstream Fiscal and Regulatory Report - Sector Challenged by Regulatory Uncertainty and Tough Fiscal Terms, presents the essential information relating to the terms which govern investment into Iraq'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 Iraq's upstream oil and gas investment climate.
In April 2018, Iraq held its fifth licensing round on the basis of a new model version of service contracts introduced in the previous weeks. However, with these new service contracts, the levels of state take are among the highest in the world and this explains why the bid round obtained mixed results with only 6 blocks assigned out of 11 on offer and no major international oil companies among the winners. In March 2018, Parliament passed legislation, still to be implemented by the government, whose goal is to reform completely the management of Iraq's petroleum sector, but the regulatory outlook remains uncertain. The most important element of the legislation would be to re-establish the Iraq National Oil Company, which would be put in charge of Iraq's petroleum contracts and would be the holding company controlling Iraq's regional oil companies.
Scope
Reasons to buy
Key Topics Covered:
1. Tables & Figures
2. Regime Overview
3. State Take Assessment
4. Key Fiscal Terms- Service Contract
4.1. Bonuses and Fees
4.1.1. Signature Bonus
4.1.2. Commerciality Bonus -Round 5 Contracts
4.1.3. Employment, Training, and Technology Transfer Fund
4.1.4. Infrastructure Fund -Round 5 Contracts
4.2. Royalty-Round 5 Contracts
4.3. Cost Recovery - Round 5 Contracts
4.3.1. Cost Recovery Limit
4.3.2. Recoverable Costs
4.4. Remuneration - Round 5 Contracts
4.5. Service Fees - Round 1-4 Contracts
4.5.1. Recoverable Costs
4.5.2. Remuneration Fees
4.6. Supplementary Fees - Rounds 1-4
4.7. Taxation
4.7.1. Corporate Income Tax
4.7.2. Customs Duties
4.7.3. Transfer Tax -Fifth Licensing Round
4.8. State Participation
4.9. Abandonment and Site Restoration
5. Key Fiscal Terms - Production Sharing Agreement
5.1. Bonuses
5.1.1. Signature and Capacity Building Bonus
5.1.2. Production Bonus
5.1.3. Additional Project Funding Support
5.2. Surface Rentals
5.3. Fees and Contributions
5.3.1. Personnel Fees
5.3.2. Training Fees
5.3.3. Environment Fund Contributions
5.3.4. Technological and Logistical Assistance Contributions
5.4. Royalty
5.5. Cost Recovery
5.5.1. Cost Recovery Limit
5.5.2. Recoverable Costs
5.6. Profit Sharing
5.7. Capacity Building Payments
5.8. Direct Taxation
5.8.1. Corporate Income Tax
5.8.2. Deductions and Depreciation
5.9. Customs Duties
5.10. State Participation
6. Regulation and Licensing
6.1. Legal Framework
6.1.1. Governing Laws
6.1.2. Contract Type
6.1.3. Title to Hydrocarbons
6.2. Institutional Framework
6.2.1. Licensing Authority
6.2.2. Regulatory Agency
6.2.3. National Oil Company
6.2.4. Joint Management of Petroleum Operations
6.3. Licensing Process
6.3.1. Federal Licensing Rounds
6.3.2. Bidding in Federal Rounds
6.4. License Terms
6.4.1. Duration
6.4.2. Work Obligations
6.4.3. Gas and Natural Gas Liquids Obligations
6.4.4. Relinquishment
6.5. Local Content
7. Outlook
8. Appendix
List of Tables
List of Figures
For more information about this report visit https://www.researchandmarkets.com/research/4swtzc/iraq_oil_and_gas?w=12
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