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Lebanon Upstream Fiscal and Regulatory Report - Stable Fiscal Regime Planned for Second Offshore Round

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Single User License
AED 5505

Restricted to one authorized user; Open on 1 PC/ mobile / Tablet only.
Print Option: No
Copy Option: No
Download Option: No
Deliverable Format : PDF viewable on the website via username

Site License
AED 11010

Multiple Users within the Company/ Enterprise
Print Option: Yes
Copy Option: Yes
Download Option: Yes
Deliverable Format : Excel, PDF viewable on the website via username

Corporate User License
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Details

Lebanon Upstream Fiscal and Regulatory Report-Stable Fiscal Regime Planned for Second Offshore Round

Summary

The creation of Lebanon's petroleum fiscal framework has been completed, at least for offshore Lebanon, over the course of the past ten years. As the country progresses to its second offshore round, it appears that the fiscal regime will remain relatively stable. However, new regulations are planned in the coming years, including those concerning onshore activities and the creation of a sovereign wealth fund (SWF). Potential policy risks for the sector may arise in the future if oil or gas discoveries are made, especially along the Israeli-Lebanese contested border. On top of this, at the regional level, in relation to petroleum activities, Lebanon appears presently quite isolated as for the current discussions among some European and Middle Eastern and North African countries in relation to future commercial deals and exporting routes for hydrocarbons.

Lebanon Upstream Fiscal and Regulatory Report-Stable Fiscal Regime Planned for Second Offshore Round, presents the essential information relating to the terms which govern investment into Lebanon'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 Lebanon's upstream oil and gas investment climate.

Scope

- Overview of current fiscal terms governing upstream oil and gas operations in Lebanon

- Assessment of the current fiscal regime's state take and attractiveness to investors

- Charts illustrating the regime structure, and legal and institutional frameworks

- Detail on legal framework and governing bodies administering the industry

- Levels of upfront payments and taxation applicable to oil and gas production

- Information on application of fiscal and regulatory terms to specific licenses

- Outlook on future of fiscal and regulatory terms in Lebanon.

Reasons to buy

- Understand the complex regulations and contractual requirements applicable to Lebanon'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.

READ MORE

Table Of Content

Scope

1 Table of Contents

1.1. List of Tables

1.2. List of Figures

2. Regime Overview

3. State Take Assessment

4. Key Fiscal Terms

4.1. Royalties, Bonuses and Fees

4.1.1. Royalty

4.1.2. Rental Fee

4.1.3. Training Obligation

4.2. Cost Recovery

4.2.1. Limit on Recovery

4.2.2. Recoverable Costs

4.3. Profit Sharing

4.4. Direct Taxation

4.4.1. Corporate Income Tax (CIT)

4.4.2. Deduction and Depreciation

4.4.3. Branch Remittance Tax

4.4.4. Withholding Tax

4.4.5. Capital Gains Tax

4.5. Indirect Taxation

4.5.1. Value Added Tax

4.5.2. Customs Duties

4.5.3. Stamp Duty

4.6. Abandonment Fund

4.7. Fiscal Stability

5. Regulation and Licensing

5.1. Legal Framework

5.1.1. Governing Law

5.1.2. Contract Type

5.1.3. Title to Hydrocarbons

5.2. Institutional Framework

5.2.1. Licensing Authority

5.2.2. Regulatory Agency

5.2.3. National Oil Company

5.3. Licensing Process

5.3.1. Licensing Rounds

5.3.2. Prequalification

5.3.3. Bidding

5.4. License Terms

5.4.1. Duration and Relinquishments

5.4.2. Participation

5.4.3. Work Obligation

5.4.4. Domestic Market Obligation

5.5. Local Content

6. Outlook

7. Appendix

7.1. References

7.2. Contact Us

7.3. Disclaimer


List Of Figure

1.2 List of Figures

Figure 1: Regime Flow Chart

Figure 2: Lebanon, Indicative NPV10/boe, IRR and State Take Comparison, Regional

Figure 3: Lebanon, Legal Framework

Figure 4: Lebanon, Institutional Framework


List Of Table

1.1 List of Tables

Table 1: Regime Overview

Table 2: Lebanon, Liquids Royalties (%)

Table 3: Lebanon, Profit Sharing Mechanism (%)

Table 4: Lebanon, Final Profit Sharing Terms, First Licensing Round

Table 5: Lebanon, Depreciation Rates (%)

Table 6: Lebanon, Eligibility Criteria for Pre-Qualification, Second Licensing Round

Table 7: Lebanon, Technical and Commercial Proposal Marking, First Licensing Round

Table 8: References

Licence Rights

Single User License:
Report can be used by individual purchaser only

Site License:
Report can be shared by unlimited users within one corporate location, e.g. a regional office

Corporate User License: 
Report can be shared globally by unlimited users within the purchasing corporation e.g. all employees of a single company

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Company Profile

Company Profile Title

Lebanon Upstream Fiscal and Regulatory Report-Stable Fiscal Regime Planned for Second Offshore Round

Summary

The creation of Lebanon's petroleum fiscal framework has been completed, at least for offshore Lebanon, over the course of the past ten years. As the country progresses to its second offshore round, it appears that the fiscal regime will remain relatively stable. However, new regulations are planned in the coming years, including those concerning onshore activities and the creation of a sovereign wealth fund (SWF). Potential policy risks for the sector may arise in the future if oil or gas discoveries are made, especially along the Israeli-Lebanese contested border. On top of this, at the regional level, in relation to petroleum activities, Lebanon appears presently quite isolated as for the current discussions among some European and Middle Eastern and North African countries in relation to future commercial deals and exporting routes for hydrocarbons.

Lebanon Upstream Fiscal and Regulatory Report-Stable Fiscal Regime Planned for Second Offshore Round, presents the essential information relating to the terms which govern investment into Lebanon'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 Lebanon's upstream oil and gas investment climate.

Scope

- Overview of current fiscal terms governing upstream oil and gas operations in Lebanon

- Assessment of the current fiscal regime's state take and attractiveness to investors

- Charts illustrating the regime structure, and legal and institutional frameworks

- Detail on legal framework and governing bodies administering the industry

- Levels of upfront payments and taxation applicable to oil and gas production

- Information on application of fiscal and regulatory terms to specific licenses

- Outlook on future of fiscal and regulatory terms in Lebanon.

Reasons to buy

- Understand the complex regulations and contractual requirements applicable to Lebanon'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.

READ MORE

Scope

1 Table of Contents

1.1. List of Tables

1.2. List of Figures

2. Regime Overview

3. State Take Assessment

4. Key Fiscal Terms

4.1. Royalties, Bonuses and Fees

4.1.1. Royalty

4.1.2. Rental Fee

4.1.3. Training Obligation

4.2. Cost Recovery

4.2.1. Limit on Recovery

4.2.2. Recoverable Costs

4.3. Profit Sharing

4.4. Direct Taxation

4.4.1. Corporate Income Tax (CIT)

4.4.2. Deduction and Depreciation

4.4.3. Branch Remittance Tax

4.4.4. Withholding Tax

4.4.5. Capital Gains Tax

4.5. Indirect Taxation

4.5.1. Value Added Tax

4.5.2. Customs Duties

4.5.3. Stamp Duty

4.6. Abandonment Fund

4.7. Fiscal Stability

5. Regulation and Licensing

5.1. Legal Framework

5.1.1. Governing Law

5.1.2. Contract Type

5.1.3. Title to Hydrocarbons

5.2. Institutional Framework

5.2.1. Licensing Authority

5.2.2. Regulatory Agency

5.2.3. National Oil Company

5.3. Licensing Process

5.3.1. Licensing Rounds

5.3.2. Prequalification

5.3.3. Bidding

5.4. License Terms

5.4.1. Duration and Relinquishments

5.4.2. Participation

5.4.3. Work Obligation

5.4.4. Domestic Market Obligation

5.5. Local Content

6. Outlook

7. Appendix

7.1. References

7.2. Contact Us

7.3. Disclaimer


List Of Figure

1.2 List of Figures

Figure 1: Regime Flow Chart

Figure 2: Lebanon, Indicative NPV10/boe, IRR and State Take Comparison, Regional

Figure 3: Lebanon, Legal Framework

Figure 4: Lebanon, Institutional Framework


List Of Table

1.1 List of Tables

Table 1: Regime Overview

Table 2: Lebanon, Liquids Royalties (%)

Table 3: Lebanon, Profit Sharing Mechanism (%)

Table 4: Lebanon, Final Profit Sharing Terms, First Licensing Round

Table 5: Lebanon, Depreciation Rates (%)

Table 6: Lebanon, Eligibility Criteria for Pre-Qualification, Second Licensing Round

Table 7: Lebanon, Technical and Commercial Proposal Marking, First Licensing Round

Table 8: References

Single User License:
Report can be used by individual purchaser only

Site License:
Report can be shared by unlimited users within one corporate location, e.g. a regional office

Corporate User License: 
Report can be shared globally by unlimited users within the purchasing corporation e.g. all employees of a single company

To know more information on Purchase by Section, please send a mail to support@kenresearch.com

INQUIRE FOR COVID-19 IMPACT ANALYSIS