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メキシコの石油・ガス上流工程の財務・規制体制の分析

Mexico Upstream Fiscal and Regulatory Report - Continued licensing expected but 2018 election adds risks

発行 GlobalData 商品コード 324941
出版日 ページ情報 英文 41 Pages
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メキシコの石油・ガス上流工程の財務・規制体制の分析 Mexico Upstream Fiscal and Regulatory Report - Continued licensing expected but 2018 election adds risks
出版日: 2017年10月30日 ページ情報: 英文 41 Pages
概要

当レポートでは、メキシコの石油・ガス産業の上流工程部門への投資に関する主な財務・規制条項について調査すると共に、最新の投資契約構造や、近年のエネルギー改革の影響、その他の収益性への影響要因、政府の収益取り分の動向、今後の市場動向や経営・投資環境などを分析しております。

目次

  • 体制概要
  • 体制フローチャート:生産/利益分配契約
  • 体制フローチャート:ロイヤルティおよび税の権利
  • 体制フローチャート: Pemexの資金割当計画
  • 政府の利益取り分の評価
  • 主な財務条項:生産/利益分配契約
  • 主な財務条項:ロイヤルティおよび税の権利
  • 主な財務条項:Pemexの資金割当計画
  • 規制・ライセンス交付
  • 将来展望
  • コンタクト情報

図表一覧

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目次
Product Code: GDGE0127UFR

"Mexico Upstream Fiscal and Regulatory Report - Continued licensing expected but 2018 election adds risks", presents the essential information relating to the terms which govern investment into Mexico'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 Mexico's upstream oil and gas investment climate.

Scope

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

Reasons to buy

  • Understand the complex regulations and contractual requirements applicable to Mexico'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 3

1.2. List of Figures 3

2. Regime Overview 4

3. State Take Assessment 9

4. Key Fiscal Terms- Production Sharing Agreement 11

4.1. Royalties, Bonuses and Fees 11

4.1.1. Signature Bonus 11

4.1.2. Royalty 11

4.1.3. Exploration Rental Fees 12

4.1.4. Hydrocarbon Activity Tax 12

4.2. Cost Recovery 13

4.2.1. Limit on Recovery 13

4.2.2. Recoverable Costs 13

4.2.3. Uplift on Cost Recovery 14

4.3. Profit Sharing 14

4.4. Direct Taxation 15

4.4.1. Corporate Income Tax 15

4.4.2. Deductions and Depreciation 16

4.4.3. Withholding Tax 16

4.5. Indirect Taxation 16

4.5.1. Value Added Tax 16

4.5.2. Customs Duties 16

4.5.3. Landowner Compensation 16

4.5.4. Carbon Tax 17

4.6. Abandonment Fund 17

4.7. State Participation 17

5. Key Fiscal Terms - Royalty and Tax 18

5.1. Signature Bonus 18

5.2. Royalty 18

5.3. Additional Royalty 18

5.3.1. Deepwater: Profitability-Based Adjustment Mechanism 19

5.3.2. Onshore: Production-Based Adjustment Mechanism 20

5.4. Exploration Rental Fees 22

5.5. Hydrocarbons Activity Tax 23

5.6. Taxation 23

5.7. Abandonment Fund 23

6. Key Fiscal Terms - Pemex Assignments Regime 24

6.1. Royalties, Bonuses and Fees 24

6.1.1. Royalty 24

6.1.2. Exploration Rental Fees 24

6.1.3. Hydrocarbon Activity Tax 24

6.2. Profit Sharing Duty 24

6.3. Taxation 25

7. Regulation and Licensing 26

7.1. Legal Framework 26

7.1.1. Governing Law 26

7.1.2. Contract Type 26

7.1.3. Title to Hydrocarbons 27

7.2. Institutional Framework 28

7.2.1. Licensing Authority 28

7.2.2. Regulatory Agency 28

7.2.3. National Oil Company 28

7.3. Licensing Process 29

7.3.1. Migration of Assignments 29

7.3.2. Licensing Rounds 29

7.3.3. Registration and Prequalification 30

7.3.4. Bidding 30

7.3.5. Evaluation of Bids 33

7.4. License Terms 34

7.4.1. Duration and Relinquishments 34

7.4.2. Work Obligation 34

7.5. Local Content 36

8. Outlook 38

9. Appendix 40

9.1. Contact Us 40

9.2. Disclaimer 40

List of Tables

1.1 List of Tables

  • Table 1: Regime Overview 4
  • Table 2: Mexico, Production Sharing Agreement, Formula-Based Price for Crude Oil, Round 1 12
  • Table 3: Mexico, Production Sharing Agreement, Initial State Share of Profit (%),Rounds 1.1, 1.2& 2.1 15
  • Table 4: Mexico, Royalty and Tax,Applicable Signature Bonus (US$) 18
  • Table 5: Mexico, Royalty and Tax, Additional Royalty Adjustment Mechanism 19
  • Table 6: Mexico, Royalty and Tax,Winning Additional Royalty Bids (%), Deepwater Licenses 20
  • Table 7: Mexico, Royalty and Tax, Additional Royalty Adjustment Mechanism,Onshore 20
  • Table 8: Mexico, Royalty and Tax, Minimum Additional Royalty Rates (%), Round 1.3, 1.4, 2.2, 2.3 21
  • Table 9: Mexico, Royalty and Tax,Winning Additional Royalty Bids (%), Rounds2.2 and 2.3 (Onshore) 22
  • Table 10: Mexico, Pemex Assignment Regime, Profit Sharing Duty Rates (%), 2015 onwards 24
  • Table 11: Mexico, Schedule for Ongoing Licensing Rounds 29
  • Table 12: Mexico, Round 2.3, 2.4 and 3.1 Prequalification Requirements 30
  • Table 13: Mexico, Minimum Work Commitments, Round 3.1 31
  • Table 14: Mexico, Work Program Units, Round 3.1 32
  • Table 15: Mexico, License Duration (Years) 34
  • Table 16: Mexico, Work Unit Value, Prior to Round 1.4 35
  • Table 17: Mexico, Work Unit Value, Round 1.4 onward 36
  • Table 18: Mexico, Local Content Requirement (%) 37

List of Figures

1.2 List of Figures

  • Figure 1: Regime Flow Chart - Production Sharing Agreement 6
  • Figure 2: Regime Flow Chart - Royalty and Tax 7
  • Figure 3: Regime Flow Chart - Pemex Assignment Regime 8
  • Figure 4: Mexico, Indicative NPV10/boe, IRR and State Take Comparison, Internal 9
  • Figure 5: Mexico, Indicative NPV10/boe, IRR and State Take Comparison, Regional 10
  • Figure 6: Mexico, Legal Framework 26
  • Figure 7: Mexico, Institutional Framework 28
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