Country report
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10 Pages

Greece upstream fiscal summary


Greece upstream fiscal summary

Report summary

Simple Concession fiscal regime, with royalty and corporate income tax.  Royalty rates vary with project profitability. The government is currently carrying out a fiscal reform programme to encourage investment in the country.  As a result, the corporate income tax rate will decrease annually until it reaches 20% in 2014.   Split of the Barrel The barrel = lifetime revenue / field reserves. Profit = revenue – costs from barrel charts.  For further details see New Investment:...

What's included?

This report includes 1 file(s)

  • Greece upstream fiscal summary PDF - 383.58 KB 10 Pages, 7 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
    • Licence terms
    • Government equity participation
    • Fiscal terms
      • Ring fencing
      • 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
    • Progressivity
    • Fiscal deterrence

In this report there are 18 tables or charts, including:

  • Executive summary
    • Revenue flowchart: Greece concession
  • Current licence, equity and fiscal terms
    • Bonuses, rentals and fees
    • Indirect taxes
    • Royalty rates
    • Royalty rate
    • Assumed terms by location - oil
  • Fiscal stability
    • Timeline
    • Timeline details
  • Economic analysis
    • Split of the barrel - oil
    • Split of the barrel - gas
    • Share of profit - oil
    • Share of profit - gas
    • Effective royalty rate and minimum state share
    • Maximum government share and maximum state share
    • 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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