Nigeria Upstream Fiscal and Regulatory Guide
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Nigeria primarily offers production-sharing agreements and sole risk contracts for upstream operations. In 2019, the country increased royalties payable on crude oil and condensate produced in inland basins and deepwater areas. The updated regime increases the fiscal burden for new investments in these areas, which may reduce the level of interest in the upcoming licensing round depending on the acreage offered. The government is also seeking to increase revenue generated from current PSCs though back-dated arrears. This, coupled with the non-passage of the Petroleum Industry Bill (now split into four separate bills) both reduces the stability of Nigeria's investment climate and increases uncertainty for investors which may extend into the medium term, particularly as the planned bills are expected to overhaul the current petroleum regulations, including the existing deepwater PSC framework.
“Nigeria Upstream Fiscal and Regulatory Guide”, presents the essential information relating to the terms which govern investment into Nigeria’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 Nigeria’s upstream oil and gas investment climate.
Scope
Overview of current fiscal terms governing upstream oil and gas operations in Nigeria
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 Nigeria
Reasons to Buy
Understand the complex regulations and contractual requirements applicable to Nigeria’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
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