Peru Upstream Fiscal and Regulatory Report – Hydrocarbons Law and Royalty Regime Being Revised
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Despite favorable fiscal terms, a lack in licensing rounds coupled with the recent downturn, resulted in reduced investments in Peru’s exploration and exploitation sector. To ease licensing regulations, Peru authorized direct negotiations in 2017 to award blocks and companies can propose to redefine block areas. Additionally, Peru’s regulator introduced technical evaluation agreements (TEA), which allow E&P players to license frontier blocks for two years and access to Perupetro’s database. In return, TEAs require only a light work program, with the aim to encourage exploration and sign future exploration and exploitation contracts. Regarding fiscal terms, corporate income tax increased from 28% to 29.5% in 2017 and Peru’s hydrocarbon law including its royalty scheme will be revised in 2018.
“Peru Upstream Fiscal and Regulatory Report – Hydrocarbons Law and Royalty Regime Being Revised”, presents the essential information relating to the terms which govern investment into Peru’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 Peru’s upstream oil and gas investment climate.
Scope
Overview of current fiscal terms governing upstream oil and gas operations in Peru
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 Peru
Reasons to Buy
Understand the complex regulations and contractual requirements applicable to Peru’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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