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الموضوع: WORLD FISCAL SYSTEMS FOR OIL & GAS

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    نبذه عن الكاتب
     
    البلد
    مصر
    مجال العمل
    تدريس وتدريب
    المشاركات
    27
    صفحة الفيس بوك
    صفحة الفيسبوك لـ المتخصص للتدريب

    WORLD FISCAL SYSTEMS FOR OIL & GAS

    Course Venue: Cairo - Egypt
    Course Date:21-25 October

    Introduction:

    This course provides participants with an intimate knowledge of petroleum upstream fiscal systems including royalties, production sharing, concessions, joint venture and service agreements. Furthermore, an in-depth assessment will be conducted on the administration of fiscal systems as well as standalone vs. incremental analysis by utilizing a powerful economic model, you will assess how various economic factors can impact a fiscal system from both a government and investor perspective. The knowledge gained will equip you to negotiate better contracts and concessions, identifying optimal investment opportunities and gaining practical, up-to-date knowledge on “real-life” examples.

    Course Objectives?
    By the end of this course participants should be have well knowledge for:
    The nature and details of all the important fiscal features around the world
    The wide variety of fiscal systems based on concessions, production sharing contracts, joint ventures, service contracts and other arrangements in the value chain
    The underlying economic characteristics of various fiscal systems
    How government policies impact on fiscal systems
    Competitive worldwide frameworks for investing in the oil and gas sector
    How to carry out advanced economic analysis on Excel spreadsheets

    Who should be attend?
    Government officials
    Country managers & external affairs
    Managers
    CEOs & CFOs
    Tax advisers & fiscal issues planners
    Legal counsels
    License administrators
    Negotiators
    Executive strategy & planning managers
    Portfolio managers
    Commercial advisers
    Accountants
    Business development & corporate
    New ventures managers
    Engineers & geophysicists
    Lawyers
    Economists & business analysts

    Course Topics:
    Introduction
    Introduction to Excel based spreadsheet for “stand alone” analysis
    Review of profitability indicators, such as NPV, IRR, EMV and profitability ratios
    Price sensitivity and Divisible Income analysis
    Government take and government revenue analysis Bonuses, Rentals, Royalties , Gross Revenue features
    Signature bonuses through bidding, negotiation and directly determined by government.
    Production bonuses
    Rentals and acreage management.
    Fixed and sliding scale royalties, royalties in kind and cash, alternative procedures for determining royalty values. Royalty concepts.
    Price sensitive royalties.
    Severance Taxes.
    Mineral Extraction Tax.
    Consolidation and Ring-fencing.
    Gross revenue determination
    Deduction of other payments to government.
    Treatment of signature bonuses for tax purposes.
    Deduction of operating costs and headquarter costs.
    Alternative capital depreciation methods.
    Deduction of interest
    Loss carry forward and carry backward.
    Refunds for tax value of exploration.
    Depletion allowances.
    Tax rates and globalization of corporate income tax.
    Tax credits.
    Worldwide corporate income tax systems, tax credits, tax treaties.
    Tax treaties.

    Production Sharing
    Special features: FTP, price caps, deemed interest, excess cost oil.
    Special terms for gas.
    Production sharing and royalties.
    Production sharing and corporation income tax.
    Joint stock companies and joint operating agreements
    Joint stock companies.
    Participation from Day 1.
    Payments upon participation
    Fixed rate carried interest.
    Special state company financing features.
    Carried interest and corporate income tax
    Carried interest and production sharing.
    Special Taxes based on Gross Revenues.
    Surtaxes, Hydrocarbon Tax.
    Special Taxes based on Net Revenues.

    Progressive and Special Taxes and Profit Shares (continued)
    IRR based taxes.
    IRR based profit oil and royalties.
    R-factors.
    Price Sensitive R-factors.
    Combination of R-factors and production-based profit oil.
    One and Two-way adjustments of price progressive features.
    Special Taxes and corporate income tax Value Added Taxes, Import Duties.
    Value added taxes, credits, refunds.
    Value added tax problems.
    Import duties, Temporary importation, Exemptions.
    Export duties.
    Property Taxes.
    Abandonment issues
    Booking of Reserves Incremental analysis
    Introduction to Excel based spreadsheet for “incremental” analysis
    Progressive analysis: corporate income tax, royalties.
    Progressive analysis: production sharing and carried interest
    Progressive analysis: IRR and R-factor based features
    Analysis of gold plating.

    Classification of fiscal systems
    Legal and Economic classification
    Concessions, Production Sharing Contracts, Joint ventures and Hybrid Systems. Country review of fiscal systems
    Sharing of divisible income: progressive, neutral, regressive and hybrid systems
    Front end and back end loading
    Geological risk and government take Level of Government Take
    Fiscal Stability.
    Determination of level of government take
    Competition among governments for investment Risk Sharing
    Sharing of risk between government and companies: Price risk, cost overrun risk, reserve risk, economic risk and gas marketing risk Government Policies
    Resource policies
    Economic policies
    Administrative policies
    Internal distribution of government take Worldwide Future Trends
    Anticipated world and petroleum industry developments
    Government take development
    Large resource access
    Unconventional resources
    Long term fiscal trends
    Impact of globalization and increased attention to the people Low Oil Prices and Climate Change
    Oil demand scenarios
    Gas demand scenarios
    Oil Price Framework, Pivot Point Oil Price Low Oil Prices and Government Take
    Detailed discussion of price progressivity, neutrality and regressively.
    Price progressivity under low oil prices Climate Change Policies
    Carbon taxes
    Eliminate subsidies
    Promote gas development
    Reduce fiscal stability Low Price Policies
    Price progressivity over wide price range
    Minimum Government Take
    Discourage excessive investment under high prices
    Improve alignment between governments and petroleum industry
    Modify State Participation Final Comment


    More Information & Registration

    Mobile: +2 01141555175
    E-mail: info@stcceg.com
    www.stcceg.com
    التعديل الأخير تم بواسطة المتخصص للتدريب ; 9/8/2018 الساعة 12:48

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