Israel Upstream Fiscal and Regulatory Report – First Competitive Bid Round for Offshore Acreage Launched

Pages: 20 Published: November 01, 2016 Report Code: GDGE0101UFR

“Israel Upstream Fiscal and Regulatory Report – First Competitive Bid Round for Offshore Acreage Launched”, presents the essential information relating to the terms which govern investment into Israel’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 Israel’s upstream oil and gas investment climate.

Scope

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

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 Israel

Reasons to Buy

Understand the complex regulations and contractual requirements applicable to Israel’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

Table of Contents

1 Table of Contents

1 Table of Contents 1

1.1 List of Tables 2

1.2 List of Figures 2

2 Regime Overview 3

3 State Take Assessment 5

4 Key Fiscal Terms 6

4.1 Signature Bonus 6

4.2 License Fees 6

4.3 Royalty 6

4.4 Direct Taxation 7

4.4.1 Petroleum Profit Tax 7

4.4.2 Corporate Income Tax 8

4.4.3 Deductions and Depreciation 9

4.4.4 Withholding Tax 9

4.4.5 Ring-Fencing 9

4.5 Indirect Taxation 10

4.5.1 Value Added Tax 10

4.5.2 Customs Duties 10

5 Regulation and Licensing 11

5.1 Legal Framework 11

5.1.1 Governing Law 11

5.1.2 Contract Type 12

5.1.3 Title to Hydrocarbons 12

5.2 Institutional Framework 13

5.2.1 Licensing Authority 13

5.2.2 Regulatory Agency 13

5.3 Licensing Process 14

5.3.1 Licensing Rounds 14

5.3.2 Prequalification 14

5.3.3 Bidding 15

5.4 License Terms 16

5.4.1 Duration 16

5.4.2 Obligations 16

5.4.3 Domestic Market Obligation 17

5.4.4 Marginal Field Incentive 17

6 Outlook 18

7 Contact Information 20

List of Tables

1.1 List of Tables

Table 1: Summary 3

Table 2: Israel, Licence Fees (NIS/1000 Dunams), Petroleum Licenses 6

Table 3: Israel, Minimum Royalty Payments, Barrels of Oil/1,000 dunams 7

Table 4: Israel, PPT Rates Until End of 2015 7

Table 5: Israel, PPT Rates From 2016 7

Table 6: Israel, CIT Rates 2006–2016 9

Table 7: Israel, Prequalification Requirements, 1st Offshore Round, 2016 14

Table 8: Israel, Evaluation Criteria, 1st Offshore Round, 2016 15

List of Figures

1.2 List of Figures

Figure 1: Regime Flow Chart 4

Figure 2: Israel, Indicative NPV10/boe, IRR and State Take Comparison – Resource Peer Group, 2016 5

Figure 3: Israel, Legal Framework 11

Figure 4: Israel, Institutional Framework 13

$1,500

Can be used by individual purchaser only

$4,500

Can be shared globally by unlimited users within the purchasing corporation e.g. all employees of a single company

Get in touch to find out about our multi-purchase discounts

reportstore@globaldata.com
Tel +44 (0) 20 7947 2960

Every customer’s requirement is unique. We understand that and can customize the report basis your exact research requirements pertaining to market insights, innovation insights, strategy and planning, and competitive intelligence. You can also avail the option of purchasing stand-alone sections of the report or request for a country specific report.

Still undecided about purchasing this report?

Enquire Before Buying

Testimonial

“The GlobalData platform is our go-to tool for intelligence services. GlobalData provides an easy way to access comprehensive intelligence data around multiple sectors, which essentially makes it a one-for-all intelligence platform, for tendering and approaching customers.

GlobalData is very customer orientated, with a high degree of personalised services, which benefits everyday use. The highly detailed project intelligence and forecast reports can be utilised across multiple departments and workflow scopes, from operational to strategic level, and often support strategic decisions. GlobalData Analytics and visualisation solutions has contributed positively when preparing management presentations and strategic papers.”

Business Intelligence & Marketing Manager, SAL Heavy Lift

“COVID-19 has caused significant interference to our business and the COVID-19 intelligence from GlobalData has helped us reach better decisions around strategy. These two highlights have helped enormously to understand the projections into the future concerning our business units, we also utilise the project database to source new projects for Liebherr-Werk to use as an additional source to pitch for new business.”

Market Analyst & Management, Liebherr-Werk

Your daily news has saved me a lot of time and keeps me up-to-date with what is happening in the market, I like that you almost always have a link to the source origin. We also use your market data in our Strategic Business Process to support our business decisions. By having everything in one place on the Intelligence Center it has saved me a lot of time versus looking on different sources, the alert function also helps with this.

Head of Key Accounts, Saab AB

Having used several other market research companies, I find that GlobalData manages to provide that ‘difficult-to-get’ market data that others can’t, as well as very diverse and complete consumer surveys.

Marketing Intelligence Manager, Portugal Foods