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9 Pages

Iran's new oil and gas fiscal terms: what to watch for


Iran's new oil and gas fiscal terms: what to watch for

Report summary

Iran will unveil its new fiscal terms on 28-29 November in Tehran. The expected lifting of most international sanctions against the country in H1 2016 marks the start of a new era and its possible re-entry onto the global stage. The unveiling of the Iranian Petroleum Contract represents the beginning of clarification of Iran’s new fiscal regime which will be key to attracting inward investment by IOCs and internationalising NOCs. Iran crucially needs to attract foreign investment and new technologies to develop and maintain production from its vast resource base.

Like the Iraq rounds in 2009, the Iran terms and opportunities will be offered against the backdrop of low oil prices and are expected to be tough, but we do not expect companies to sign terms as harsh as the Iraqi rounds.

In the first of a series of reports, Wood Mackenzie looks at possible terms and analyses how attractive Iran’s new fiscal terms are likely to be with risks and considerations for both IOCs and government.


What's included?

This report includes 1 file(s)

  • Iran's new oil and gas fiscal terms: what to watch for PDF - 1.50 MB 9 Pages, 2 Tables, 4 Figures

Description

This Upstream Oil and Gas Insight report highlights the key issues surrounding this topic, and draws out the key implications for those involved.

This report helps participants, suppliers and advisors understand trends, risks and issues within the upstream oil and gas industry. It gives you an expert point of view to support informed decision making.

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 upstream commercial data and analysis.

  • Executive summary
    • The roll out of Iran's new fiscal terms
    • The framework of the IPC - a PSA in disguise?
  • Iran's IPC and Iraq's TSC - the same, but different
    • Risks of harsh terms
    • Key considerations for the IPC
  • Appendix
    • Buy-back contracts – low technical risk, high financial risk
    • Lack of flexibility and bad luck

In this report there are 6 tables or charts, including:

  • Executive summary
    • Abbreviated fiscal regime comparison (full table in the Appendix)
  • Iran's IPC and Iraq's TSC - the same, but different
    • Price comparisons, 2008 vs. 2014
    • Iran's new oil and gas fiscal terms: what to watch for: Image 2
    • Key Iraqi projects
  • Appendix
    • Main buy-back projects
    • Full fiscal regime comparison
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