Published : Jun-2018
No. of Pages : 33
1 Table of Contents 1
1.1. List of Tables 3
1.2. List of Figures 4
2. Regime Overview 5
3. State Take Assessment 8
4. Key Fiscal Terms- Production Sharing Agreements 9
4.1. Royalties, Bonuses and Fees 9
4.1.1. Signature Bonus 9
4.1.2. Production Bonus 9
4.1.3. Training Bonus 10
4.1.4. Assignment Bonus 10
4.1.5. Exploration Area Retention Bonus 10
4.1.6. Development Lease Bonus 11
4.1.7. Royalty (Paid out of NOC share) 11
4.2. Cost Recovery 12
4.2.1. Cost Recovery Limit 12
4.2.2. Recoverable Costs 12
4.2.3. Excess Cost Recovery 13
4.3. Profit Sharing 13
4.3.1. EGPC Agreements 13
4.3.2. EGAS Agreements 16
4.3.3. GANOPE Agreements 18
4.4. Direct Taxation 19
4.4.1. Income Tax 19
4.4.2. Deductions and Depreciation 19
4.5. Tax Exemptions 20
5. Key Fiscal Terms - Service Contracts 21
5.1. Royalties, Bonuses and Fees 21
5.1.1. Signature Bonus 21
5.1.2. Tariff Fee 21
5.2. Baseline Service Fee 21
5.3. Remuneration 22
5.4. Direct Taxation 23
5.4.1. Corporate Income Tax 23
6. Regulation and Licensing 24
6.1. Legal Framework 24
6.1.1. Governing Law 24
6.1.2. Contract Type 25
6.1.3. Title to Hydrocarbons 25
6.2. Institutional Framework 26
6.2.1. Licensing Authority 26
6.2.2. National Oil Company 26
6.2.3. Regulatory Agency 27
6.3. Licensing Process 27
6.3.1. Qualification 27
6.3.2. Bidding 27
6.4. License Terms 27
6.4.1. Duration and Relinquishment 27
6.4.2. Exploration Obligation 28
6.4.3. Management of Operations 28
6.5. Domestic Market Obligation 28
7. Outlook 29
8. Appendix 30
8.1. References 30
8.2. Contact Us 32
8.3. Disclaimer 32
1.1 List of Tables
Table 1: Regime Overview 5
Table 2: Egypt, Production Bonus Thresholds in Model Contracts 9
Table 3: Egypt, Production Bonuses (US$ million), Various Concessions 10
Table 4: Egypt, Cost Recovery Limits (%), Various Concessions 12
Table 5: Egypt, Minimum NOC Share of Excess Cost Recovery Rates (%), Bid Rounds 2014 -2016 13
Table 6:Egypt, Oil and Condensate Profit Sharing Framework (% Contractor Share), EGPC 2018Round 14
Table 7:Egypt, Gas and LPG Profit Sharing Framework (% Contractor Share), EGPC 2018Round 14
Table 8: Egypt, Profit Sharing Framework, East Ras Qattara Concession (2004) 14
Table 9: Egypt, EGPC 2003 and 2004 Model Contract Profit Sharing Framework 15
Table 10: Egypt, Profit Sharing Framework, NW Gemsa Concession (2002) 15
Table 11: Egypt, Profit Sharing Framework, Burg El Arab Concession (1990) 15
Table 12: Egypt, Oil and Condensate Production Sharing Framework (% Contractor Share), EGAS 2018 Round 16
Table 13: Egypt, Gas and LPG Production Sharing Framework (% Contractor Share), EGAS 2018 Round 16
Table 14: Egypt, Profit Sharing Framework, South Disouq Concession (2014) 17
Table 15: Egypt, Oil and Condensate Profit Sharing Framework (% Contractor Share), Shorouk Concession (2014) 17
Table 16: Egypt, Gas Profit Sharing Framework, Shorouk Concession 17
Table 17: Egypt, Profit Sharing Framework, North El Maghara Concession, 2007 18
Table 18: Egypt, Oil and Condensate Production Sharing Framework (% Contractor Share), GANOPE 2016 Licensing Round 18
Table 19: Egypt, Gas and LPG Production Sharing Framework (% Contractor Share), GANOPE 2016 Licensing Round 18
Table 20: Egypt, Tariff Fee, West Gharib Block H Service Contract 21
Table 21: Egypt, Contractor Remuneration (% of incremental production), Area A Service Contract 22
Table 22: Egypt, Contractor Remuneration (% of incremental production), Issaran Service Contract 22
Table 23: References 30
1.2 List of Figures
Figure 1: Egypt, Regime Flow Chart - Production Sharing Agreement 6
Figure 2: Egypt, Regime Flow Chart - Service Contract 7
Figure 3: Egypt, Indicative NPV10/boe, IRR and State Take Comparison,Regional 8
Figure 4: Egypt, Legal Framework 24
Figure 5: Egypt, Institutional Framework 26
