South Africa Oil and Gas Upstream Fiscal and Regulatory Report 2018: Regime, State Take Assessment, Key Fiscal Terms, Regulation and Licensing & Outlook
DUBLIN, Jan. 15, 2019 /PRNewswire/ --
The "South Africa Upstream Fiscal and Regulatory Report - Pending Legislation Creates Regulatory Uncertainty" report has been added to ResearchAndMarkets.com's offering.
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South Africa Upstream Fiscal and Regulatory Report - Pending Legislation Creates Regulatory Uncertainty, presents the essential information relating to the terms which govern investment into South Africa'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 South Africa's upstream oil and gas investment climate.
South Africa awards exploration and production licenses under a royalty and tax regime. The government has reverted to the original version of the Mineral and Petroleum Resources Development Act, withdrawing the long-awaited amendment bill. Instead, South Africa is seeking to separate the upstream hydrocarbon legislation from the mining legislation. A temporary moratorium has been placed on new applications until this legislation is defined.
The pending legislation changes create uncertainty in the short-to-medium term. The award of shale gas applications also remains delayed as public consultations are revisited following increased public and lobby-group pressure. For future acreage awards, the government is planning to implement a competitive licensing round process. Previously the country held an open door policy.
Scope
-- Overview of current fiscal terms governing upstream oil and gas
operations in South Africa
-- 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 South Africa.
Key Topics Covered:
1 Table of Contents
1.1. List of Tables
1.2. List of Figures
2. Regime Overview
3. State Take Assessment
4. Key Fiscal Terms
4.1. Royalties, Bonuses and Fees
4.1.1. Royalties
4.1.2. Exploration Fees
4.1.3. Upstream Training Trust Fees
4.2. Direct Taxation
4.2.1. Corporate Income Tax
4.2.2. Deductions and Depreciation
4.2.3. Withholding Tax
4.3. Indirect Taxation
4.3.1. Value Added Tax
4.3.2. Customs Duties
4.4. Participation Requirements
4.4.1. State Participation
4.4.2. Historically Disadvantaged South African Participation
4.5. Fiscal Stability Agreements
5. Regulation and Licensing
5.1. Legal Framework
5.1.1. Governing Law
5.1.2. Contract Type
5.1.3. Title to Hydrocarbons
5.2. Institutional Framework
5.2.1. Licensing Authority
5.2.2. Regulatory Agency
5.2.3. National Oil Company
5.3. Licensing Process
5.4. License Terms
5.4.1. Duration and Relinquishments
5.4.2. Work Obligation
5.5. Local Content
5.6. Regulations on Hydraulic Fracturing
6. Outlook
7. Appendix
For more information about this report visit https://www.researchandmarkets.com/research/3b69mw/south_africa_oil?w=5
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