Published : Feb-2017
No. of Pages : 25
1. Table of Contents 1
1.1. List of Tables 3
1.2. List of Figures 3
2. Regime Overview 4
3. State Take Assessment 7
4. Key Fiscal Terms 8
4.1. Royalties, Bonuses and Fees 8
4.1.1. Bonuses (EPSA) 8
4.1.2. Training Obligations (EPSA) 8
4.1.3. Carried Interest Payments (DPSA) 9
4.1.4. Social Contribution Fund (DPSA) 9
4.2. DPSA - Revenue Available for Production Sharing 10
4.2.1. Crude Oil and Associated Gas 10
4.2.2. Non-Associated Gas and Liquids 11
4.3. Cost Recovery 13
4.3.1. Limit on Recovery - EPSA 13
4.3.2. Limit on Recovery - DPSA 13
4.3.3. Recoverable Costs - EPSA 13
4.3.4. Recoverable Costs - DPSA 14
4.4. Profit Sharing 14
4.4.1. EPSA 14
4.4.2. DPSA 15
4.5. Abandonment Fund 16
4.5.1. EPSA 16
4.5.2. DPSA 17
4.6. Direct Taxation 17
4.6.1. Petroleum Income Tax 17
4.6.2. Deductions and Depreciation 17
4.6.3. Withholding Tax 17
4.7. Indirect Taxation 17
4.7.1. Value Added Tax 17
4.7.2. Customs Duties 17
4.8. Fiscal Stabilization 18
5. Regulation and Licensing 19
5.1. Legal Framework 19
5.1.1. Governing Law 19
5.1.2. Contract Type 20
5.1.3. Title to Hydrocarbons 20
5.2. Institutional Framework 20
5.2.1. Licensing Authority 21
5.2.2. Regulatory Agency 21
5.2.3. National Oil Company 21
5.3. Licensing Process 21
5.3.1. Licensing Rounds 21
5.4. License Terms 21
5.4.1. Duration and Relinquishments 21
5.4.2. Work Obligation 22
5.5. Local Content 22
6. Outlook 23
7. Appendix 24
7.1. Contact Us 24
7.2. Disclaimer 24
1.1 List of Tables
Table 1: Regime Overview 4
Table 2: Bahrain, EPSA, Blocks 1 - 4, Production Bonuses (US$) 8
Table 3: Bahrain, DPSA, Nogaholding Carry Payments (US$) 9
Table 4: Bahrain, DPSA, Baseline Crude Oil Production Profile (bd) 10
Table 5: Bahrain, DPSA, Target Deliverability (mmcfd) 12
Table 6: Bahrain, EPSA, Blocks 1-4, Cost Recovery Limit (%) 13
Table 7: Bahrain, EPSA, Blocks 1 - 4, Crude Oil and Associated Gas Discovery, Profit Sharing Framework (%) 14
Table 8: Bahrain, EPSA, Blocks 1 - 4, Non-Associated Natural Gas and Liquid Discovery, Profit Sharing Framework (%) 15
Table 9: Bahrain, DPSA, Profit Crude Oil Sharing 15
Table 10: Bahrain, DPSA, Profit NAG Sharing 16
1.2 List of Figures
Figure 1: Regime Flow Chart - EPSA 5
Figure 2: Regime Flow Chart - DPSA 6
Figure 3: Bahrain, Indicative NPV10/boe, IRR and State Take Comparison, Regional 7
Figure 4: Bahrain, Legal Framework 19
Figure 5: Bahrain, Institutional Framework 20
