Published : Apr-2017
No. of Pages : 22
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 - Production Sharing Agreement 8
4.1. Royalties, Bonuses and Fees 8
4.1.1. Royalty 8
4.1.2. Social Responsibility and Training 8
4.1.3. Signature Bonus 8
4.2. Cost Recovery 8
4.2.1. Limit on Recovery 8
4.2.2. Recoverable Costs 8
4.3. Profit Sharing 9
4.4. Direct Taxation 10
4.4.1. Petroleum Income Tax 10
4.4.2. Deductions and Depreciation 10
4.4.3. Withholding Tax 10
4.5. Indirect Taxation 11
4.5.1. Turnover Tax 11
4.5.2. Customs Duties 11
4.6. State Participation 11
4.7. Abandonment Fund 11
5. Key Fiscal Terms - Concession Agreement 12
5.1. Royalties, Bonuses and Fees 12
5.1.1. Royalty 12
5.2. Direct Taxation 12
5.2.1. Petroleum Income Tax 12
5.2.2. Deductions and Depreciation 12
5.2.3. Withholding Tax 12
5.3. Indirect Taxation 12
6. Regulation and Licensing 13
6.1. Legal Framework 13
6.1.1. Governing Law 13
6.1.2. Contract Type 13
6.1.3. Title to Hydrocarbons 14
6.2. Institutional Framework 15
6.2.1. Licensing Authority 15
6.2.2. Regulatory Agency 15
6.2.3. National Oil Company 15
6.3. Licensing Process 16
6.3.1. Open Door Policy 16
6.3.2. Licensing Rounds 16
6.3.3. Prequalification 16
6.3.4. Bidding 17
6.4. License Terms 17
6.4.1. Duration and Relinquishments 17
6.4.2. Work Obligation 18
6.5. Local Content 19
7. Outlook 20
8. Appendix 21
8.1. Contact Us 21
8.2. Disclaimer 21
1.1 List of Tables
Table 1: Regime Overview 4
Table 2: Suriname, 2014/2015 Licensing Round Staatsolie Profit Share (%), Blocks 58, 59 and 60 9
Table 3: Suriname, Block 42 and 45 Profit Sharing Framework 9
Table 4: Suriname, 2003-2004 Bid Round Profit Sharing Framework 10
Table 5: Suriname, Minimum Work Program for Block 59 and 60, 2015 17
Table 6: Suriname, Relinquishments for Block 58, 59 and 60, 2015 18
Table 7: Suriname, Work Obligation Costs for Block 45, 2011 18
1.2 List of Figures
Figure 1: Regime Flow Chart - Production Sharing Agreement 5
Figure 2: Regime Flow Chart - Concession Agreement 6
Figure 3: Suriname, Indicative NPV10/boe, IRR and State Take Comparison, Regional 7
Figure 4: Suriname, Legal Framework 13
Figure 5: Suriname, Institutional Framework 15
