Country report
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11 Pages

Norway upstream fiscal summary


Norway upstream fiscal summary

Report summary

Concession fiscal regime where royalty has now been abolished for all fields.  Corporate income tax (27%) and an additional profits tax (Special Tax, at 51%) are both payable and not deductible against each other, hence the total marginal tax rate payable is 78%. Some minor CO2 and NOx levies are payable on gas flared, gas or oil/condensate used for power generation and nitrous oxide emissions. The barrel = lifetime revenue / field reserves. Profit = revenue – costs from barrel charts.  For...

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This report includes 1 file(s)

  • Norway upstream fiscal summary PDF - 384.95 KB 11 Pages, 7 Tables, 10 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
      • Royalty
      • Indirect taxes
      • Corporate income tax
        • Tax Incentives
      • Additional petroleum taxes
        • Special 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 17 tables or charts, including:

  • Executive summary
    • Revenue flowchart: Norway Concession
  • Current licence, equity and fiscal terms
    • Bonuses and fees
    • Area rentals
    • Indirect taxes
    • Norway Concession
  • 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 - shelf and deepwater, oil and gas
    • Maximum government share - shelf and deepwater, oil and 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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