Country report
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13 Pages

Colombia upstream fiscal summary


Colombia upstream fiscal summary

Report summary

The current Concession Contract model was introduced in 2004 and replaced the 30 year old Ecopetrol Association Contract model. The new contracts are based on a royalty system with fundamental differences from the previous Association Contract in use in Colombia. Deregulation of gas prices was scheduled for 2005. It now looks unlikely to happen in the near-term as de-regulation is dependent on sufficient supply competition, which has not yet been achieved. Until deregulation,...

What's included?

This report includes 1 file(s)

  • Colombia upstream fiscal summary PDF - 409.28 KB 13 Pages, 14 Tables, 11 Figures

Description

Volatility in oil markets has led players in the upstream oil and gas industry to focus on reducing capital spend and operating costs. At the same time, governments need to review fiscal terms to maintain attractiveness and investment.

This country report gives an overview of the key fiscal issues for this country. If you’re interested in identifying and assessing upstream investment and expansion opportunities, this upstream fiscal summary report is your definitive commercial guide.

Potential investors, governments and companies in the oil and gas sector can use it to gain a better understanding of the critical issues for development opportunities in this country.

Wood Mackenzie's 500 dedicated analysts are located in the markets they cover. They produce forward-looking analysis at both country and asset level across the globe, backed by our robust proprietary database of trusted research. Proprietary data means a superior level of analysis that is simply not available anywhere else. Wood Mackenzie is the recognised gold standard in commercial data and analysis.

  • Executive summary
  • Current licence, equity and fiscal terms
    • Basis
    • Ring fencing
    • Fiscal Terms
      • Licence terms
      • Government equity participation
      • Bonuses, rentals and fees
      • Indirect taxes
      • Royalty
      • Corporate income tax
      • Product pricing
      • Summary of modelled terms
  • Fiscal stability
    • Recent history of fiscal changes
    • Stability provisions
  • Economic analysis
    • Split of the barrel and share of profit
    • Effective royalty rate and maximum government share
      • Effective royalty rate - onshore, shelf and deepwater, gas
    • Progressivity
    • Fiscal deterrence

In this report there are 25 tables or charts, including:

  • Executive summary
    • Revenue flowchart: Colombia Concession
  • Current licence, equity and fiscal terms
    • Bonuses, rentals and fees
    • Indirect taxes
    • Royalty rates
    • Royalty rates
    • Trigger Price Thresholds (US$/bbl, 2014 Terms)
    • Corporate income tax
    • Assumed terms by location
  • Fiscal stability
    • Timeline
    • Timeline detail
  • Economic analysis
    • Split of the barrel - oil
    • Split of the barrel - gas
    • Share of profit - oil
    • Share of profit - gas
    • Effective royalty rate - onshore, shelf and deepwater, oil
    • Economic analysis: Table 2
    • Maximum government share - onshore and shelf, oil
    • Maximum government share - deepwater, oil
    • Maximum government share - onshore, gas
    • Maximum government share - shelf, gas
    • Maximum government share - deepwater, gas
    • State share versus Pre-Share IRR - oil
    • State share versus Pre-Share IRR - gas
    • Investor IRR versus Pre-Share IRR - oil
    • Investor IRR versus Pre-Share IRR - gas
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