Netherlands Upstream Fiscal and Regulatory Report - Attractive Offshore Fiscal Regime Could See Further Improvements

 Published On: Aug, 2015 |    No of Pages: 15 |  Published By: GlobalData | Format: PDF
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Summary

“Netherlands Upstream Fiscal and Regulatory Report - Attractive Offshore Fiscal Regime Could See Further Improvements”, GlobalData's latest release, presents the essential information relating to the terms which govern investment into the Netherlands'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 the Netherlands's upstream oil and gas investment climate.

Scope

- Overview of current fiscal terms governing upstream oil and gas operations in the Netherlands
- Detail on legal framework and governing bodies administering the industry
- Levels of upfront payments and taxation applicable to oil and gas production
- Explanation of the special incentives offered for marginal fields
- Assessment of the current fiscal regime's attractiveness to investors
- Outlook on future of fiscal and regulatory terms in the Netherlands

Reasons to buy

- Understand the complex regulations and contractual requirements applicable to the Netherlands'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 Contents
1 Table of Contents 1
1.1 List of Tables 2
1.2 List of Figures 2
2 Regime Overview 3
3 Fiscal Take Assessment 5
4 Key Fiscal Terms 6
4.1 Upfront Payments 6
4.1.1 Rentals 6
4.1.2 Severance Tax (Cijns) 6
4.2 Direct Taxation 6
4.2.1 State Profit Share 6
4.2.2 Corporation Tax 7
4.2.3 Deductions and Depreciation 7
4.3 Production Incentives 7
4.3.1 Small Fields Policy 7
4.3.2 Marginal Field Tax Allowance 7
4.3.3 R&D Incentives 8
4.4 Indirect Taxation 8
4.4.1 Value Added Tax 8
4.4.2 Import Duty 8
4.4.3 EU Emissions Trading Scheme 8
5 Regulation and Licensing 9
5.1 Legal Framework 9
5.1.1 Governing Law 9
5.1.2 Contract Type 9
5.1.3 Title to Hydrocarbons 9
5.2 Institutional Framework 10
5.2.1 Licensing Authority 10
5.2.2 Regulatory Agency 10
5.2.3 National Oil Company 11
5.3 Licensing Process 11
5.3.1 Qualification 11
5.3.2 Bidding 11
5.4 License Terms 11
5.4.1 Duration and Relinquishment 11
5.4.2 Obligations 12
5.5 State Participation 12
5.6 Environmental Regulation 12
5.7 Restrictions on Hydraulic Fracturing 13
6 Outlook 14
7 Contact Information 15

1.1 List of Tables
Table 1: Summary 3
Table 2: Netherlands, Rental Fees, 2015 6
Table 3: Netherlands, Onshore Severance Tax Rates, 2015 6
Table 4: Netherlands, Historical Corporation Tax Rates (%), 1984-2015 7
Table 5: Annual Government Fallow Acreage Relinquishment Procedure Timeline 12

1.2 List of Figures
Figure 1: Regime Flow Chart 4
Figure 2: Netherlands, Indicative NPV10/boe, IRR and Fiscal Take Comparison - Regional, 2015 5
Figure 3: Netherlands, Indicative NPV10/boe, IRR and Fiscal Take Comparison - Resource Peer Group, 2015 5
Figure 4: Netherlands, Legal Framework 9
Figure 5: Netherlands, Institutional Framework 10


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