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Summary“Uganda Upstream Fiscal and Regulatory Report - First Licensing Round to Test Attractiveness of Revised Regime”, GlobalData's latest release, presents the essential information relating to the terms which govern investment into Uganda'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 Uganda's upstream oil and gas investment climate.Scope- Overview of current fiscal terms governing upstream oil and gas operations in Uganda- Detail on legal framework and governing bodies administering the industry- Levels of upfront payments and taxation applicable to oil and gas production- Explanation of production sharing mechanisms in existing contracts- Information on the evolution of the legal framework in the run-up to Uganda's first bid round- Assessment of the current fiscal regime's attractiveness to investors- Outlook on future of fiscal and regulatory terms in the UgandaReasons to buy- Understand the complex regulations and contractual requirements applicable to the Uganda'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
1 Table of Contents1 Table of Contents 11.1 List of Tables 21.2 List of Figures 22 Regime Overview 33 Fiscal Take Assessment 54 Key Fiscal Terms 64.1 Upfront Payments 64.1.1 Signature Bonus 64.1.2 Discovery Bonus 64.1.3 Rental Fees 64.1.4 Training Fees 64.1.5 Royalties 64.1.6 Additional Royalty 64.2 Cost Recovery 74.2.1 Cost Recovery Limit 74.2.2 Recoverable Costs 74.3 Profit Sharing 74.4 Direct Taxation 84.4.1 Corporate Income Tax 84.4.2 Branch Remittance Tax 84.4.3 Deductions and Depreciation 84.4.4 Withholding Tax 84.5 Indirect Taxation 84.5.1 Value Added Tax 84.5.2 Import Duties 85 Regulation and Licensing 105.1 Legal Framework 105.1.1 Governing Law 105.1.2 Contract Type 105.1.3 Title to Hydrocarbons 115.2 Institutional Framework 115.2.1 Licensing Authority 115.2.2 Regulatory Agency 115.2.3 National Oil Company 125.3 Licensing Process 125.3.1 Licensing Rounds 125.3.2 Direct Applications 125.4 License Terms 125.4.1 Duration 125.4.2 Work Obligations 125.4.3 Domestic Market Obligation 125.4.4 Local Content 125.5 State Participation 126 Outlook 137 Contact Information 141.1 List of TablesTable 1: Summary 3Table 2: Uganda, Annual Rental Fees (US$/km2), 2015 6Table 3: Uganda, Royalty Rates, 2015 6Table 4: Uganda, Additional Royalty Rates, 2015 7Table 5: Uganda, Profit Sharing, EA1 7Table 6: Uganda, Non-Petroleum Operations Depreciation Rates (%), 2015 8Table 7: Uganda, EAC Customs Union - Import Duty (%), 2015 91.2 List of FiguresFigure 1: Regime Flow Chart 4Figure 2: Uganda, Indicative Fiscal Take Comparison - Internal, 2015 5Figure 3: Uganda, Indicative NPV10/boe, IRR and Fiscal Take Comparison - Regional, 2015 5Figure 4: Uganda, Legal Framework 10Figure 5: Uganda, Institutional Framework 11